Abu Dhabi developer Aldar Properties has signed a partnership with Indian real estate services company Anarock Group to enter into the Indian market.
The partnership aims to provide Indian investors with direct access to Aldar’s portfolio in Abu Dhabi including projects such as Mamsha Al Saadiyat, Yas Island developments such as Mayan, Yas Acres, and Water’s Edge as well as Alghadeer.
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.
Talal Al Dhiyebi, CEO, 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 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.”
Anarock has operations across all major Indian markets with sales volumes of over 1,400 homes sold every month. In March 2019, the company opened an office in Abu Dhabi, the firm’s second operational base in the UAE after launching operations in Dubai in 2017.
Anuj Puri, group chairman, Anarock 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.”
Indians are already the biggest international investors in Dubai’s property market.
According to the Dubai Land Department, of the Dhs62bn invested in Dubai’s property market between January – November 2018, Indians came second only to Emiratis with Dhs10.8bn worth of investments.