(MENAFN- Khaleej Times) Published: Sun 25 Dec 2022, 1:16 PM
Bollywood celebrities are making a beeline to buy property in Dubai to cash in on better rates despite the recent increase in prices.
Many celebrities from the Indian film industry have already made Dubai their second home, and many new rising stars are also buying properties to settle in the emirate on a long-term basis.
After Kiku Sharda, Meet Brothers, Karan Kundra and Tejaswini Prakash, famous bollywood playback singer, music director and composer Ankit Tiwari has also announced that he is buying property in Dubai and making the emirate his second home.
Many A-category Bollywood celebrities such as Shah Rukh Khan and Sanjay Dutt, among others, have made Dubai their second home. The Indian billionaire Mukesh Ambani also reportedly bought an expensive villa in Dubai recently.
According to Zoom Property Insights, the average price in these most sought-after areas has seen a significant upward trend this year due to the increase in demand and interest of buyers and tenants.
Ankit Tiwari said he chose Dubai to buy his first property outside his home country.“I bought it because of Dubai's proximity to India. It's just three hour flight from Mumbai. Plus, many Bollywood celebrities already live in Dubai. Plus, I perform multiple times here in Dubai every year,” he said during the purchase of his apartment in Dubai.
Tiwari bought the property in Danube Properties' newly-launched twin-tower project Elitz, located in Jumeirah Village Circle and houses studios, one, two, and three-bedroom flats and duplexes.
Rizwan Sajan, chairman and founder of Danube Properties, said they're in talks with many more Bollywood artists to buy properties in Dubai.
“We try to bring Bollywood stars because they're interested in buying in our projects as our relation with Bollywood goes a long way.”
For investors, he said, timely delivery of projects is key.
“Out of 20 projects, we have delivered 13 and one will be delivered in the second quarter of 2023. We launched six projects this year alone. We deliver on time because our projects are sold out and there is no shortage of money,” he said.
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