#INTERVIEW: Sunteck Realty Brings a New Era of Luxury to Downtown Dubai

Dubai has become the world’s most coveted address for luxury living, and as the region opens its doors wider to global investors, Indian real estate giant Sunteck Realty steps in with an ambitious plan. In this conversation, Chairman and Managing Director Kamal Khetan talks about the company’s evolution into the global realty landscape.

Delna Mistry Anand: You come from a rich legacy of building some of the most sought-after luxury projects in India, tell us about your journey.

Kamal Khetan: Our first breakthrough was in Bandra East in 2007. Back then the area was considered low income group. These were old LIG and MIG colonies under the Maharashtra Housing board. While Bandra West was aspirational, East was not. People wondered why we chose that location, but we entered with a clear vision. We wanted to change the perception of the entire district. That is what our first project did. We delivered large apartments – 8,000, 10,000 and even 14,000 sq feet. That size set a new benchmark, due to which we attracted names like Uday Kotak, Gautam Adani and Sonam Kapoor. That does not happen unless the product speaks for itself. And we are proud to say that this project changed how the market viewed BKC. It has now become a luxury destination.

What defines luxury for Sunteck? What made those homes stand out?

Luxury is not only a beautiful elevation or a glossy lobby. It starts with privacy and extends to design, flexibility and the profile of the community. In our Bandra project, we removed all nameplates as each and every visitor was escorted. No outsider could wander into the lobby and locate a home. For our buyers, privacy was non-negotiable.

Design flexibility is another key. We allow buyers to modify certain elements during construction. They can shift bathrooms or bedrooms within structural limits. It gives them a sense of ownership.

We believe that luxury has to feel complete. It has to give you space, identity and comfort. We never compromise on apartment size. Space is always the first luxury.

How is India’s rapid growth that influencing your strategy here in the Middle East?

India is seeing organic wealth creation at a speed that surprises even the global market. More first generation millionaires and billionaires are emerging every year. That pushes demand for premium homes. The key challenge is retention. People build wealth in India then move abroad, as you can see it’s mostly to Dubai, especially in the last 2-3 years. Because of that, the India to Dubai luxury corridor is strong. Buyers want homes in both countries. They want familiarity, safety, lifestyle and flight connectivity. India’s wealth growth will continue to benefit Dubai in a big way.

So why Dubai for Sunteck? What is the strategy here?

Dubai is the natural choice today. This region is moving faster than any other. Not only in infrastructure but also in mindset. Adaptability is what helps a place grow and it is clear that Dubai understands that. They keep improving and they keep staying ahead.

More than ten thousand high net worth Indian families have relocated to the UAE in recent years, and of that, about seventy five percent choose Dubai. Even those who stay in India want a second home here. That says a lot. For us the goal is not to test the market. We are here with a long term commitment.

Tell us about your Dubai project, the location sounds extraordinary!

The plot is in the heart of Downtown, it is a 10,000 sq mt project, one of the last large plots available in the district. It sits just behind Mashreq Bank headquarters with views of the Burj Khalifa, Dubai Mall, the Canal, Dubai Creek and on the front, you see Zabeel Palace. The views are uninterrupted. We are developing two residential towers, and do not intend on compromising the luxury positioning in any way. We are bringing in top global architects and HP London for interiors. The goal is to elevate Dubai luxury even further.

What kind of buyer do you see gravitating to this project?

The same profile that bought in our Bandra East landmark; people who want a combination of privacy, scale, design excellence and location. Dubai attracts global wealth. Our project is in the most desirable square kilometer in the region. It appeals to end users as much as investors.

What are your long term plans for the GCC?

We are very clear - wherever we enter, we study the market deeply. Ultra luxury development has no room for error, as one mistake can undo years of brand equity. After Dubai we will expand but only after we are fully ready. This is a long term commitment.

Thank you for this detailed insight. Any final thought on Sunteck’s philosophy?

It is to deliver excellence and never compromise space or quality. We respect our buyer’s lifestyle, and will always stay ahead of the curve.