Punjabi actor cum singer, Ammy Virk, has chalked out a plan to venture into the upscale property business with the launch of his new firm called Mehar Properties, which was a major move in terms of diversification in his professional career. Till date, Virk’s professional life has remained strictly in the entertainment industry, where he has already carved a prestigious niche for himself in this sector in terms of his performance in the film and music industry.
Mehar Properties is aiming at the rapidly growing and internationally popular property market in the UAE, the Dubai market in particular, which is an attractor of investors globally. Dubai is appealing in terms of friendly government policies, tax regimes, and infrastructure, and is an investor’s paradise offering excellent returns on investment, especially in the luxury residential sector.
The main idea that Mehar Properties has for its vision is bridging Indian investors, particularly from Punjab, with quality real estate in Dubai. Their goal is also to make foreign real estate investment easier by providing investors with luxury real estate that they can work with, making foreign real estate purchase much easier for them.
As a part of its expansion plans, Mehar Properties is aiming tie-ups with some of the pre-established Dubai-based developers, thus increasing its base in the saturated luxury market. Ammy Virk is also actively networking with some of the top real estate players in the UAE, entering into tie-ups with some of the top players such as Kirpa Properties and BNW Developments.
It has also been observed that celebrity-real-estate projects have turned out to be an emerging trend in the industry, wherein celebrities utilize their credibility as well as their popularity to create trust and generate credibility for their projects. For example, in Virk’s business, he has an immense link with the Punjabi community settled in India, Canada, the UK, as well as the Middle East, offering Mehar Properties an edge in outreach.
Through Mehar Properties, Ammy Virk seems to not only be positioning himself as a brand ambassador but rather as an individual with an entrepreneurial mind who is aiming to provide a trustworthy platform for Indians wanting to participate in Dubai’s high-end real estate sectors. This move also shows that Indian celebrities continue to venture into global investment systems while leveraging the diaspora trust/networks available to them.
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