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UAE-based master developer Arada plans to launch Arada Capital, a new fund management platform targeting $5 billion in assets under management (AUM) within four years.
Arada Capital will be based in Abu Dhabi Global Market (ADGM). The platform has received in-principle approval from ADGM's Financial Services Regulatory Authority and is currently seeking final regulatory approval to operate as a fund manager.
The platform's funds will provide institutional and qualified investors with direct access to Arada's development pipeline as well as broader real estate investment opportunities across the GCC, a statement said on Monday.
Arada has appointed Moustafa Fahour OAM as Chief Executive Officer and Managing Director of Arada Capital.
(Writing by Brinda Darasha; Editing by Mily Chakrabarty)
