First partnership with a UAE developer for off plan sales to drive international investments into Abu Dhabi
Mumbai, June 25, 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.
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.
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.
Corporate Comm India(CCI Newswire)
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