Aldar Properties has invested in Taronga Ventures, a property technology investor operating across the Asia-Pacific region, as it seeks to diversify operations and expand.
Through the partnership, Aldar, the biggest property developer in Abu Dhabi, will gain access to technology co-investment opportunities providing "additional revenue streams and new efficiencies" for its portfolio, the developer said in a statement on Tuesday.
The agreement aims to increase the exchange of technological know-how and ideas in the Middle East and focus on sustainable solutions.
The size of the investment was not disclosed.
Maan Al Awlaqi, Aldar’s executive director of strategy and transformation, said: “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."
Investors have increasingly focused on PropTech after the coronavirus pandemic forced companies, including those in the property sector, to digitise to ensure business continuity.
Connected buildings, analytics, mortgage solutions, blockchain and online viewing technology are among the key focus areas for PropTech companies, which are looking to disrupt the traditional market through digital solutions for the entire property value chain.
The investment in Taronga is Aldar’s first in a property fund in the Apac region, where investment in PropTech is expected to reach $26 billion by 2024, said Unissa, a global platform for PropTech procurement.
Taronga invests in "innovation-driven companies" and provides strategic access to its network of property co-investors. It is also a certified carbon-neutral platform and prioritises collaboration with companies aligned with the UN’s Sustainable Development Goals.
Jonathan Hannam, co-founder and managing partner of Taronga Ventures, 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.”
The partnership is Aldar’s fifth in a property technology fund and diversifies the developer's exposure to the sector, the statement said. Its investments in the funds are part of the company’s strategy to boost innovation and support start-ups.
It also offers incubation programmes for start-ups in complementary sectors such as the Aldar Scale Up programme, which focuses on enabling the development of the PropTech sector in the UAE, and the Manassah initiative, an entrepreneurship incubator that supports retail technology start-ups across the Middle East and North Africa.
Wonka
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Three trading apps to try
Sharad Nair recommends three investment apps for UAE residents:
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
NBA Finals results
Game 1: Warriors 124, Cavaliers 114
Game 2: Warriors 122, Cavaliers 103
Game 3: Cavaliers 102, Warriors 110
Game 4: In Cleveland, Sunday (Monday morning UAE)
Company%20profile
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Titanium Escrow profile
Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue
Stage: Early stage
Investors: Founder's friends and Family
