Chennai-based developer Casagrand is making its debut in the UAE with an AED 420 mn (USD 114.3 mn) investment in Dubai Islands for its Hermina project. In an exclusive interview with EnterpriseAM, Casagrand Dubai Director Luthfullah K (LinkedIn) details a strategy to build a 6 mn sq ft regional pipeline over the next three years, following a record 156% surge in district transaction volumes. As an increasing number of Indian developers follow diaspora demand into the UAE, Casagrand is wagering that the waterfront residential clusters will outperform the city’s saturated hubs.

EnterpriseAM: Why debut in Dubai Islands instead of established hubs like Downtown or Business Bay?

Luthfullah K: Early-stage clusters like Dubai Islands offer an attractive risk-reward balance when backed by strong government vision and infrastructure investment. Unlike mature locations such as Downtown or Business Bay, Dubai Islands offers the window to create a lifestyle-led development at scale with long-term upside rather than density-driven constraints. It is a waterfront district aligned with the Dubai 2040 Urban Master Plan. Casagrand Hermina is positioned to benefit from an early-mover advantage in a coastal corridor that combines beachfront living with proximity to the city’s core.

EnterpriseAM: How do you assess the property boom in the UAE markets? Is it here to stay?

Luthfullah K: What we are seeing today is growth driven by long-term fundamentals rather than short-term speculation. Regulatory transparency, world-class infrastructure, and sustained international demand have created a stable and resilient real estate environment. Demand is coming from end-users, global investors, and long-term residents, giving this cycle depth and durability. The market is well-positioned to remain strong over the medium to long term.

EnterpriseAM: How does Dubai’s regulatory environment and approval timelines compare with those in India, and does this influence your expansion plans? Are there plans to tap into UAE-based financing or private equity capital for this expansion?

Luthfullah K: Dubai offers a significantly faster, predictable regulatory framework. Approval timelines are clearly defined, processes are digitized, and there is strong coordination among authorities. For a project like Hermina, the time-to-market in Dubai can be meaningfully shorter, enabling quicker execution without compromising on quality. This efficiency is key to our decision to expand here. We remain open to exploring UAE-based financing and capital partnerships as part of our broader growth strategy. That said, our expansion is anchored in financial discipline and long-term sustainability.

EnterpriseAM: How do you assess competition from other India-based and regional developers entering Dubai at an unprecedented scale?

Luthfullah K: Competition is a natural outcome of a strong market and a sign of Dubai’s global appeal. However, scale alone does not define success. What ultimately differentiates developers is consistency in delivery, quality of execution, and customer trust. Casagrand has delivered homes to over 55k families, and its reputation for timely delivery positions us well in a competitive landscape. The market will naturally reward developers who bring depth, discipline, and long-term commitment.

EnterpriseAM: Beyond residential, are you evaluating mixed-use, hospitality, or commercial assets in the UAE to diversify revenue streams? What is your long-term strategy in the UAE market?

Luthfullah K: In a phased approach, we are actively evaluating land parcels across major master plans and emerging communities. The focus is on quality locations rather than rapid accumulation to keep the expansion sustainable while maintaining our standards. Our long-term strategy in the UAE includes evaluating mixed-use windows. While residential remains our immediate focus, we are actively assessing avenues that align with our design-led, lifestyle-oriented development philosophy.

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