As per its framework to promote the adoption of disruptive technology in the real estate market, Aldar Properties has entered a partnership with Fifth Wall, which is promoted to be the world’s greatest venture capital firm revolved around real estate technology.
Aldar Properties move to enhance the real estate sector
The investment into Fifth Wall’s European Real Estate Technology Fund makes Aldar the chief limited partner from the MENA territory to invest in the fund. Through this investment, Aldar intends to exploit Fifth Wall’s gigantic association of PropTech startups in Europe to get to the latest advances and examples that are driving the improvement of the real estate region. This passageway will give Aldar urgent pieces of information to instruct its business decisions and perceive courses of action and potential moves up to the various businesses that are fundamental for Aldar.
With the European PropTech Association expecting $185bn to be invested in PropTech globally before 2025, Aldar joins a social affair of set up Fifth Wall crucial LPs from around the world who attempt to perceive and potentially invest in PropTech startups in the European real estate technology ecosystem. Maan Al Awlaqi, Aldar’s Executive Director of Strategy and Transformation, commented: “Our investment in Fifth Wall indicates the accompanying time of our improvement venture and will allow us to keep awake with the types of progress of the Fourth Industrial Revolution. The fund outfits us with induction to overall data and game plans that will enhance our investments in regional startups and set up in-house progression programs. The new partnership will help Aldar with advancing drive modernized change, improve customer experience, and embed more efficient practices.”
The partnership with Fifth Wall adds to Aldar’s present game plan of investments and drives that are based on propelling headway and technology in the real estate and retail regions. Aldar has set up an Innovation Office that gives composed and powerful permission to startups and innovators into Aldar’s colossal endeavor for trials and adoptions. This consolidates the Aldar Scale Up program which revolves around engaging the improvement of the PropTech territory in the UAE, and the Manassah program, which is Aldar’s business incubation facility that is highlighted supporting retail technology startups and entrepreneurial talent in the Gulf area. Aldar’s Ibtikar challenge invites laborers to introduce ideas and concepts that can address business troubles and overhaul customer experience.