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Aldar Properties invests in real estate technology fund in Asia Pacific

Aldar Properties invests in real estate technology fund in Asia Pacific
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Abu Dhabi – Mubasher: Aldar Properties has invested in Taronga Ventures, a real estate technology investor operating across the Asia Pacific (APAC) region, marking its fifth investment in a global real estate technology fund and first in the APAC region.

This investment will enable Aldar to explore the APAC real estate tech scene and technology co-investment opportunities to generate additional revenues, according to a press release on Tuesday.

Taronga Ventures has used its fund to invest in innovation-driven companies and provide access to its network of real estate co-investors.

Aldar’s Executive Director of Strategy and Transformation, Maan Al Awlaqi, commented: "By tapping into technology and tech-enabled companies across the world, Aldar is 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."

Meanwhile, the Co-Founder and Managing Partner of Taronga Ventures, Jonathan Hannam, said: "We can see immediate growth opportunities for many of the Fund’s investments within the existing Aldar portfolio and especially in new developments being undertaken by the group. We will also be working closely with Aldar to further develop the technology ecosystem in the Middle East."