Indian buyers now account for nearly a third of all demand in Dubai’s off-plan property segment, according to Aditya Pushkarna, Associate Director at Banke International Properties’ India business.
Speaking to Business Outreach about the Dubai-headquartered real estate agency’s India strategy, Pushkarna says that this trend has held steady even as Dubai’s real estate market has evolved, with Indian buyers increasingly weighing developer track record and long-term rental prospects over quick capital gains.
Pushkarna, who is based in Navi Mumbai, brings a Dubai-honed vantage point to the India business.
After completing his Bachelor’s in Financial Markets at G N Khalsa College, he moved to Dubai in 2017 and gained experience at PropTiger and Square Yards across sales, marketing and portfolio management, before joining Banke, where he now oversees Banke’s Mumbai operations, managing a team of over 40 agents.
Dubai-headquartered Banke International Properties operates across the UAE, Qatar, the UK, India and South Africa. The firm says it has facilitated the sale of more than 10,000 properties, has transacted upwards of 5 million square feet of commercial space, with a portfolio of 200+ off-plan projects.
Indian Buyers Continue to Drive Dubai’s Off-Plan Real Estate Market
Dubai’s off-plan segment — anchored by developers such as Emaar, Damac and Sobha — has been one of Banke’s biggest growth drivers, and Pushkarna said Indians remain central to that story.
“Indian buyers today represent a significant share of the UAE property market. They continue to be among the largest buyer groups, accounting for approximately 30–35% of the demand seen in this segment,” said the real estate leader, adding that “there has no significant shift in this trend” despite the market’s evolution.
He attributed the appetite to structural advantages of buying early.
“Indian investors are much interested in off-plan projects as it offers access to premium developments at a much earlier stage,” he said, pointing to “flexible payment plans and the potential for capital appreciation as projects move towards completion” as key draws.
Developer credibility has reinforced the trend further, he said: “Developers in the Dubai market have built strong credibility over the years by consistently delivering high-quality projects, which has further reinforced buyer confidence.”
Aditya Pushkarna Explains How Indian Buyer Preferences Are Changing
“There is growing interest from entrepreneurs, professionals, business owners and globally mobile families,” he said, who “see Dubai as a long-term destination for business, lifestyle and wealth diversification.”
Buyers, he added, have grown more discerning: “Property buyers are now better informed and selective, placing greater emphasis on the developer’s track record, project location, infrastructure connectivity and long-term rental prospects rather than purely short-term gains.”
Dubai remains the anchor, but India is being built up as an equal pillar
The UAE still dominates Banke’s overall business, contributing “nearly 80–85% of the company’s overall business,” with India, Qatar, the UK and South Africa splitting the remaining 15–20%, Pushkarna said.
But is India merely a feeder market? “Dubai remains to be Banke’s anchor market, given the strength and maturity of our business in the UAE,” he said, but “over the longer term, our objective is for Banke India to become equally strong.”
He said the company sees Dubai and India as “complementary growth engines” rather than a hierarchy: “The wealth of knowledge, relationships and market insights developed in Dubai complement our growing presence in India. Likewise, our Indian operations allow us to serve domestic clients and support their evolving real estate and investment aspirations better.”
Mumbai’s growth bet: developer tie-ups and the Bandra-Mira Road corridor
On the India side, Banke is leaning on developer partnerships — with Godrej Properties, L&T Realty, Piramal, Lodha and MS Realty — to hit roughly half of its ₹1,000 crore sales target for the fiscal.
“Our aim therefore is targeting approximately 50% of our overall business from our key developer partnerships, backed by the strength of their project portfolios, upcoming launches and continued demand across the region,” Pushkarna said.
These tie-ups, he added, give Banke “priority access to inventory, inventory tagging and preferential pricing structures.”
Geographically, Banke is backing the Bandra-to-Mira Road corridor to outperform in Mumbai this year, estimating it will contribute half of the company’s Mumbai business.
“The corridor has seen significant infrastructure development and connectivity improvements across key areas, especially Bandra, Versova and Borivali,” he said, noting an average ticket size of “approximately Rs 2–3 crore” in the belt.
