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ALDAR MARKS ENTRY INTO INDIA THROUGH STRATEGIC PARTNERSHIP WITH ANAROCK GROUP

ALDAR MARKS ENTRY INTO INDIA THROUGH STRATEGIC PARTNERSHIP WITH ANAROCK GROUP

Partnership in line with Aldar's strategy for international reach and drive international investments into Abu Dhabi's real estate market

ANAROCK chooses Aldar as its first UAE developer partner for off plan sales

 

25 June 2019: Aldar Properties PJSC ('Aldar'), Abu Dhabi's leading property development, management and investment company, announced today a landmark partnership with ANAROCK Group ('ANAROCK'), India's leading specialised real estate services company, to bring some of Abu Dhabi's most-sought after properties on offer to Indian investors and buyers.

The partnership, which marks a significant milestone in Aldar's strategy for growing its international reach, aims to provide Indian investors with direct access to Aldar's portfolio of world-class destinations across Abu Dhabi. This includes Mamsha Al Saadiyat, located on the beach adjacent to the capital's iconic cultural district home to the Louvre Abu Dhabi, and the much-anticipated Zayed National Museum and the Guggenheim. Other destinations include Yas Island developments such as Mayan, Yas Acres, and Water's Edge all of which are close to Ferrari World and Warner Bros World, and Alghadeer which is a short distance away from Expo 2020 Dubai, and theme parks Bollywood World, Legoland, and Motiongate.

Talal Al Dhiyebi, Chief Executive Officer, Aldar Properties, said: "India is a very important market for Aldar and a core part of our strategy for international sales. Through our partnership with a leading player like ANAROCK, we aim to create a new gateway for Indian investors into the many opportunities that can be found in Abu Dhabi. This strategic collaboration will enable Indian buyers to benefit from the newly introduced law regarding freehold ownership of land in investment zones and visa rules for real estate investors in Abu Dhabi, which have made our destinations even more attractive to international investors. We look forward to working with ANAROCK and bringing our unique developments to serious buyers across India."

This is Aldar's first major partnership since the launch of its inaugural experience centre in Dubai earlier this year, also set to promote the Company's expansion globally. It follows the recent positive reforms introduced by the UAE government with the launch of the "golden card" permanent residency scheme for foreign investors, as well as the new freehold property law in Abu Dhabi, offering foreign investors the ability to buy land on a freehold basis within investment zones in Abu Dhabi – whereas they were previously granted 99-year leasehold arrangements.

Anuj Puri, Group Chairman, ANAROCK Group, said: "When we looked at the UAE for our own international growth, it was easy for us to choose Abu Dhabi. The favourable market environment in Abu Dhabi offers Indians a great opportunity for investment and business growth. Partnering with Aldar, the leader in Abu Dhabi, will provide our client base in India access to some of the best properties and communities in the region. We look forward to introducing our clients to this fantastic opportunity for living and investing that Aldar has created in Abu Dhabi."

The ANAROCK Group is India's leading specialised real estate services company with diversified interests across the real estate value chain. ANAROCK's growing business teams account for over 1,800 real estate specialists with operations across all major Indian markets and sales volumes of over 1,400 homes sold every month. In March 2019, ANAOCK announced the launch of a dedicated office in Abu Dhabi, which is the firm's second operational base in the UAE after launching operations in Dubai in 2017.

The UAE and India enjoy a longstanding and strong bilateral relationship that spans across the economic, commercial and cultural sectors. India remains among the UAE's largest trading partners, with trade set to cross $100 million by 2020. Indians are also among the largest expatriate groups in the country – and in fact, Indian expatriates in the UAE are the single-largest community of Non-Resident Indians (NRIs) in the world. For its part, Abu Dhabi is home to the first traditional Hindu temple in the UAE. 


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