Aldar Properties, Abu Dhabi-based leading real estate investment platform, has invested in Taronga Ventures, a property technology (PropTech) investor operating across the Asia-Pacific (APAC) region, as it seeks to diversify operations and expand.
The investment forms part of Aldar’s broader innovation strategy, promoting the adoption of disruptive technologies within the real estate sector. Taronga has created a global ecosystem to advance and scale innovation-driven companies by using its fund to invest into these companies and provide strategic access to its network of world-leading real estate coinvestors.
According to Aldar, this partnership will gain access to technology co-investment opportunities providing additional revenue streams and new efficiencies for its portfolio. The agreement aims to increase the exchange of technological know-how and ideas in the Middle East and focus on sustainable solutions.
“Aldar’s innovation journey continues to accelerate at a rapid pace. 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. Taronga Ventures’ focus on the APAC region as well as its ability to identify technology companies that have far-reaching positive ESG impacts aligns with our vision to advance the UAE’s property sector through new technology and sustainability-focused solutions.”
This partnership represents Aldar’s fifth real estate technology fund investment and diversifies Aldar’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 supporting decarbonization across the real estate sector, Taronga Ventures is also a certified carbon-neutral platform that prioritizes collaboration with companies that align with the UN’s Sustainable Development Goals.
Mr. Jonathan Hannam, Co-Founder and Managing Partner, Taronga Ventures, said that “Having worked and lived in Abu Dhabi we are delighted to be returning to this important region to support emerging technology companies, with such a strong and dynamic partner as Aldar. 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.”