Abu Dhabi, 27 Nov 2024: In a landmark initiative to strengthen ties between India and the United Arab Emirates, the National Real Estate Development Council (NAREDCO) in support with Ministry of Housing & Urban Affairs hosted the “India-UAE: Shaping Sustainable Futures: Innovation and Investment in Real Estate” conference in Hilton, Yas Island Abu Dhabi. The conference brought together over 350 participants, including 35 government delegates from India, industry leaders, and dignitaries from the UAE, marking a significant step forward in collaboration between the two nations.
The conference, which was part of NAREDCO’s Abu Dhabi & Dubai Study Tour, saw discussions on innovative solutions and investment strategies for sustainable urban development. The event underscored the strategic importance of the India-UAE partnership, which has evolved into a model of economic and cultural cooperation.
H.E. Eng. Mohamed Ebrahim Al Mansoori, Director General of Sheikh Zayed Housing Programme; Ministry of Energy and Infrastructure UAE, & Minister’s Advisor for Engineering Affairs, underscored the UAE’s commitment to sustainability and urban innovation. “The UAE has reduced its non-oil GDP by 8%, achieving a homeownership rate of 91% by the end of 2023. These are the results of financial sustainability and progressive policies. By sharing our experiences, we aim to create eco-resilient cities that inspire the world. India’s rapid urbanization presents immense opportunities for collaboration, and together, we can build a future defined by sustainable innovation.”
Sh. Kuldip Narayan, IAS, Joint Secretary & Mission Director (Housing for All), Ministry of Housing & Urban Affairs, spoke on the ambitious scale of India’s housing mission. “In the last nine years, we have facilitated the construction of over nine million affordable houses, ten times the number built in the previous decade. Our next target is to construct 10 million homes in just five years, doubling the speed of delivery. However, the scale of urbanization in India demands even greater efforts. Greenfield city development and innovative urban planning are crucial if we are to align our infrastructure with the country’s economic growth, which is projected to grow at 7-8% annually over the next 20 years.”
He also noted the importance of a robust regulatory framework in driving progress. “Real estate contributes not just to economic growth but also to societal development. The single-window interface for approvals must be streamlined to facilitate ease of doing business. We must embrace best practices from countries like the UAE to create urban environments that are sustainable, inclusive, and future-ready.”
Sh. G Hari Babu, President of NAREDCO, emphasized the significance of the India-UAE relationship, describing it as the foundation for the event. “India and the United Arab Emirates are the best friends in the world today. With representatives from 21 Indian states attending this conference, we are taking important lessons in sustainable urban development back home. India’s housing journey has progressed from providing basic homes to affordable, sustainable, and now luxury housing for all. Cities like Hyderabad are seeing apartments worth 20-25 crores, reflecting the remarkable growth of our real estate sector.”
Dr. Niranjan Hiranandani, Chairman of NAREDCO, emphasized the significant contributions of the real estate industry to India’s economy. Currently responsible for 7% of the GDP, the sector is projected by Niti Aayog to expand to 15% as India approaches a $5 trillion economy. This growth creates a multiplier effect, driving employment, investment, and positively impacting 270 allied industries. Strengthening partnerships with the UAE will bolster collaboration, fostering innovation and accelerating sustainable development. Embracing global partnerships and focusing on eco-friendly practices will be vital for propelling the real estate sector toward a sustainable and prosperous future.
The conference showcased a diverse range of sessions, centered on themes such as exploring Real Estate opportunities between India and the UAE, advances in construction technology: quality & sustainability, bridging boundaries: harnessing UAE’s RERA Strengths for India’s Real Estate Future and innovation in Urban Development: Effective Town Planning and Clearances. These panels featured leading experts from both India and the UAE, fostering valuable insights and collaboration.
This event marks a significant step forward in the collaboration between India and the UAE, fostering knowledge-sharing and innovation in the real estate sector. By addressing challenges and leveraging opportunities, the partnership aims to set a global benchmark in sustainable urban development. With its focus on strengthening international investments and building resilient cities, NAREDCO continues to lead India’s efforts in reshaping its urban landscape.
