Dubai’s real estate market has always been popular with Indian investors and the same is true for Bollywood stars and other celebrities. While many are making Dubai their second home, many are investing in luxurious properties in the Emirate as well.
Dubai’s real estate market has witnessed a major return of investors from across the globe, notably Indian investors who are picking up prime properties in the Emirate for future appreciation and even for earning rental income. In recent years, several Bollywood celebrities and other elite citizens of the country have been investing massively in the Dubai property market. Meet Brothers, the musician duo, are the latest celebrities to invest in Dubai real estate. They have invested in apartments in the new project by Danube Properties which is named Skyz Tower and was launched in October last year. Harmeet and Manmeet Singh join the ranks of a growing legion of Indian celebrities who are shifting to Dubai.
This list includes the likes of Sanjay Dutt, Boney Kapoor, South Indian stars Mohanlal and Mammootty and others who have received their 10-year Golden Visa from the UAE Government. Bollywood celebrities like Sonu Nigam have already shifted here while many others like R. Madhavan and Nawazuddin Siddiqui are reportedly eyeing properties in the Emirate. Dubai has always been a popular destination for owning a second home for Indian investors and elite citizens who love the dynamic and vibrant appeal of the city which is forever buzzing.
Who Else Owns Homes in Dubai and all the Buzz
Air connectivity to Dubai is seamless with major cities in India while it is only a short flight away from Mumbai across the Arabian Sea. The sizable community of Indians living and working in Dubai is another factor that draws Indian investors in large numbers. Bollywood celebrities love the fact that Dubai is home to the biggest global brands and is a major shopping hub while being home (or a second home) to the who’s who of the global business, fashion and entertainment world. David and Victoria Beckham own a 7-bedroom Palm Jumeirah villa that they bought in the year 2008, following it up with a home in the iconic Burj Khalifa. Even Shah Rukh Khan was an early entrant to Dubai, promoting tourism in the UAE and setting up a second home named Jannat here. This plush 6-bedroom villa is one of the prized possessions in his real estate portfolio. Legendary fashion designer Giorgio Armani owns an entire hotel at Downtown Dubai in partnership with Emaar Properties.
Shilpa Shetty and her husband Raj Kundra splashed out on a luxury apartment in the Burj Khalifa back in the year 2010. However, the couple has reportedly sold this apartment and bought a massive villa at the Palm Jumeirah. Abhishek and Aishwarya Rai Bachchan also own a luxury villa in the Sanctuary Falls Jumeirah Golf Estates. They purchased this property back in 2013. Even Lindsay Lohan owns a chunk of The World Islands off the Dubai coastline, which she is reportedly planning to develop and design in the future.
Some More Details
SRK’s holiday home started it all as he was reportedly gifted this villa named Jannat by Nakheel Public Joint Stock Company. Anil Kapoor has also bought a 2 BHK apartment in the city while shooting for 24. This property is reportedly near Discovery Gardens at Al Furjan. Salman and Sohail Khan also have property investments in Dubai. Salman Khan owns an apartment at The Address Downtown while Sohail Khan purchased several apartments on one floor in 2013 at Signature Residences in Dubai. He called this an investment by the family which would come in useful when they travel together to the Emirate.
The relatively shorter Dubai flight from Mumbai and attractive property valuations (from a global perspective) are key factors drawing Bollywood celebrities and other elite investors while they are also attracted to the global lifestyle, high quality of life and availability of almost everything that they could desire. They are also being drawn to the Golden Visa which has been a true game-changer in attracting talented individuals and families to the city. Many Bollywood celebrities are getting onto the Dubai bandwagon. Reports state that ace property investor Akshay Kumar is also looking to invest in Dubai soon.
In fact, SRK and his wife Gauri Khan have also launched The Real Estates By Shah Rukh Khan here previously. Developers are pulling out all the stops to offer luxury housing units to their well-heeled buyers and Indian investors. Many of them are investing for capital appreciation while some are also looking at rental income opportunities. Many celebrities are seeing their Dubai properties add more value to their overall capital portfolios. Even Sania Mirza lives with her husband Shoaib Malik in Dubai and has already got her Golden 10-year visa. The couple is reportedly planning to launch a sporting entrepreneurial venture in Dubai.
Considering these developments, it seems that Bollywood’s love affair with Dubai has just begun!
