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Taronga Ventures to introduce opportunities for Aldar to further diversify its business and increase technology transfer to the region
June 24, 2022 | Staff Reporter | UAE | Prop Tech
Aldar Properties has increased its exposure to global real estate technology funds through a partnership with Taronga Ventures, a leading real estate technology investor operating across the Asia Pacific (APAC) region.
The investment forms part of the company’s broader innovation strategy, promoting the adoption of disruptive technologies within the real estate sector.
Taronga Ventures has created a global ecosystem to advance and scale innovation-driven companies by using its fund to invest in these companies and provide strategic access to its network of world-leading real estate coinvestors.
Through the partnership with Taronga Ventures, the company will gain access to technology co-investment opportunities providing additional revenue streams and new efficiencies for its portfolio.
Simultaneously, the opportunities will allow Aldar to forge strategic partnerships that deepen technology knowledge transfer and ideation into the Middle East.
This partnership represents Aldar’s fifth real estate technology fund investment and diversifies the company’s exposure to the sector, through Taronga Ventures’ global mandate and positioning in the APAC region. In line with Aldar’s efforts and commitment to support decarbonisation across the real estate sector, Taronga Ventures is also a certified carbon-neutral platform that prioritises collaboration with companies that align with the UN’s Sustainable Development Goals.
The investment is Aldar’s first in a real estate fund in the APAC region, where investment in PropTech is expected to reach $26 billion by 2024, according to UNISSA, a global platform for PropTech procurement.
Maan Al Awlaqi, Aldar’s executive director of Strategy and Transformation, said, “Our innovation journey continues to accelerate at a rapid pace. By tapping into technology and tech-enabled companies across the world, we are not only able to further diversify its business, but crucially, it is able to facilitate the transfer of innovation to the Middle East’s real estate market.
