Indian customers account for 20% of total sales at Sobha Realty, the UAE-based luxury developer, the company said in Mumbai on October 27.

The developer is building Sobha City, a masterplan in Abu Dhabi's Al Bahiya area near Yas Island and Zayed International Airport. The project is valued at AED 40 billion and spans about 38 million sq ft, with nearly 60% given over to open and green space. It is the company's first large-scale residential community in Abu Dhabi.

Scale of construction

Managing director Francis Alfred said the company has 79 million sq ft under development and more than 37,000 homes under construction across three emirates. It expects to hand over more than 6,000 homes in Dubai this year. Ashish Parakh, group chief sales and marketing officer, said Indian customers remain important to the company's growth.

The company is also the title sponsor of IIFA Weekend for a fourth year; the IIFA Awards 2027 are scheduled for January 22–23 at Etihad Arena on Yas Island.

Buying overseas: points for Indian residents

Resident Indians buying property abroad do so under the RBI's Liberalised Remittance Scheme, which caps remittances per financial year, and tax collected at source applies on large overseas remittances. Buyers should check the current limits with their bank before committing to payment plans.