First partnership with a UAE developer for off plan sales to drive international investments into Abu Dhabi
Mumbai, 24 June 2019: The ANAROCK Group, India’s leading specialised real estate services firm, has partnered with Aldar Properties PJSC (‘Aldar’), Abu Dhabi’s leading property development, management and investment company, to market some of Abu Dhabi’s most sought-after properties to Indian investors and buyers.
The partnership will 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, the much-anticipated Zayed National Museum, and the Guggenheim Yas Island developments such as Mayan, Yas Acres, and Water’s Edge (all close to Ferrari World and Warner Bros World) and Alghadeer, a short distance away from Expo 2020 Dubai and theme parks Bollywood World, Legoland, and Motiongate.
Anuj Puri, Chairman – ANAROCK Group said: “With our intense focus on the UAE for our international growth, Abu Dhabi stands out as an exceptional market. Abu Dhabi offers Indians a great opportunity for investment and business growth. Partnering with Aldar, one of the leading real estate players in Abu Dhabi, will provide our Indian clients access to some of the best properties and communities in the region. This is a fantastic opportunity for living and investing in Abu Dhabi, with the assurance of a highly-established real estate brand.”
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.
Shajai Jacob, CEO – GCC, ANAROCK Property Consultants said: “This is a collaboration of equals to assist India’s high net-worth families and individuals to take advantage of Abu Dhabi’s beneficial investment ecosystem. The UAE has traditionally held a special place in the heart of the well-heeled and globally travelled Indians, and our partnership with Aldar will bring to them the most attractive real estate investment options from one of the best and most sustainable developers in the region. With a sales velocity of over 1,000 transacted units a month in India, ANAROCK will now also offer unmatched investment opportunities from Aldar’s suite of products to its clients”.
The ANAROCK Group launched dedicated offices in Abu Dhabi in 2019. This is the firm’s second operational base in the UAE after launching operations in Dubai in 2017. ANAROCK is set to expand further in the Middle East with 4 new offices in Oman, Bahrain, Saudi Arabia and Kuwait on the anvil.
The UAE has a massive complement of non-resident Indians. According to the United Nations’ International Migration Report of the International Organisation of Migrants (IOM), the UAE had over 3.3 million Indians in 2017. More than 50% of NRIs living and working in the UAE hail from Tamil Nadu and Kerala. Over 30% of UAE-based NRIs live in the biggest cities of Abu Dhabi, Dubai and Sharjah.
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.