Listed real estate developer Sunteck Realty has acquired a nearly 3-acre land parcel in Dubai Downtown, part of the Burj Khalifa District, to develop a residential project under its ultra-luxury vertical Emaance through which the company plans to undertake projects worth around Rs 20,000 crore over the next 12 months.
While the Dubai project marks the developer’s foray into the international property market, the other project under the newly formed ultra-luxury development vertical will be in South Mumbai.
The company has acquired a prime sea-facing land parcel in Nepean Sea Road for the same. Both the projects under this newly set up vertical hold a total development potential of around 1.8 million sq ft.
International luxury projects have not been common for Indian developers, making this a significant step in diversifying beyond domestic markets.
“The new vertical Emaance will focus exclusively on ultra-luxury housing and operate as a by-invite-only platform. The first two projects under the brand are planned at Nepeansea Road in South Mumbai and in Dubai Downtown. Each Emaance development will be released in limited numbers, with an emphasis on exclusivity. We plan to position the vertical as a broader lifestyle brand with offerings beyond residences,” Kamal Khetan, CMD, Sunteck Realty, told ET.
According to him, residences under this vertical will be priced upwards of Rs 2.5 lakh per sq ft, placing them among the costliest homes in the country. The Nepean Sea Road project is expected to be launched within the current fiscal year.
The development comes even as demand for high-value housing in India has been on the rise, supported by an expanding wealthy class and shifting buyer preferences. Developers in key cities such as Mumbai, Delhi-NCR, and Bengaluru have increased focus on luxury projects to tap this trend.
Dubai’s luxury property market has emerged as a preferred destination for wealthy Indian homebuyers, driven by its status as a global financial hub, investor-friendly policies, and attractive lifestyle offerings.
Indians have consistently ranked among the top foreign buyers in the emirate, with demand spanning high-end residences in areas such as Downtown Dubai, Palm Jumeirah, and Dubai Marina.
Factors including proximity to India, long-term residency options through golden visa schemes, and strong returns on investment have further strengthened this interest, making Dubai one of the most sought-after international markets for affluent Indian investors and end-users alike.