Abu Dhabi developer Aldar will launch a $1 billion real estate investment fund next year, targeting global institutional investors. The Aldar Capital initiative is a joint venture with fund manager Mubadala Capital — an arm of the Abu Dhabi sovereign wealth fund — and aims to sign up sovereign wealth funds, pensions, funds of funds, insurance companies, and family offices as customers.
It will be based in the Abu Dhabi Global Market financial zone and will target real estate and infrastructure deals in the UAE and across the wider Gulf. The region’s property markets are awash with foreign owners, but the market for overseas institutional buyers is relatively underdeveloped.