Sunteck Realty Expands to Dubai with a ₹10,000 Crore Luxury Project
Sunteck Realty Ltd has ventured into the Dubai property market with a ₹10,000 crore luxury project in the prime Downtown Dubai area, at a time when the city is witnessing a surge in demand for high-end properties.
Sunteck International, the entity set up to develop projects in the United Arab Emirates, will develop two residential towers on 2.5 acres of land in partnership with local firm MAS Real Estate. It will feature both regular apartments and branded residences, in collaboration with hospitality brands.
The Mumbai-based developer's maiden project, slated for launch in 2026, is expected to have an estimated gross development value (GDV) of nearly ₹10,000 crore. “Our entry into an international market such as Dubai is a strategic decision based on its superior infrastructure, global money pouring into the city, the lifestyle factor, and overall demand for premium homes not just from Indians,” Sunteck Realty chairman and managing director, Kamal Khetan, told Mint in an interview.
Sunteck International has planned projects worth over ₹35,000 crore in the UAE within the next three years. Sunteck Realty is not new to developing luxury projects. Its Signature Island residential property in Mumbai's Bandra Kurla Complex (BKC) is home to several Bollywood A-listers, bankers, and C-suite executives.
The developer has also set up a new luxury development vertical, Emaance. Under this vertical, it will develop an ultra-luxury project on South Mumbai's Nepean Sea Road, where homes will be priced at over ₹2 lakh per square foot. Its net profit grew by 41.4% year-on-year to ₹49 crore in the September quarter. Revenue from operations was up 49.3% to ₹252.4 crore.
Indian developers have taken on luxury projects in foreign locales, including London and Dubai, when the property market was booming at home. However, when the domestic real estate market went through a low patch, many of them put their plans on hold. Still, several real estate firms have launched projects in Dubai and continue to do so because of its status as a premium global property market.
Mumbai’s Hiranandani Group won acclaim for building the 23 Marina residential tower in Dubai. PNC Menon, who founded Sobha Ltd, also founded Sobha Realty, which has several projects in the UAE. Chennai-based realty firm Casagrand entered the UAE market in 2025 with a residential project on Dubai Islands. The company has also outlined plans to develop 6 million sq. ft over the next three years in the city.
“Indian real estate developers are leaving a considerable mark on Dubai and the broader Middle East region. Their primary intent is to expand outside their usually saturated domestic markets, but Dubai's robust regulatory framework and favourable tax conditions are also significant factors. These players want to build a strong brand and robust portfolios there, and many of them target UHNIs,” said Anuj Puri, chairman at property advisory Anarock Group. “Simultaneously, investment from the UAE is pouring into India’s swiftly growing economy. This reciprocal relationship between India and the UAE in real estate signals a shift in how large Indian players are growing their global footprints and is also changing how investments flow within these regions,” Puri added.
