Abu Dhabi developer Aldar to invest in Fifth Wall 'proptech' fund

Aldar said the investment in the U.S. firm is aimed at gaining access to the latest technologies

  
Aldar launches new rent to own scheme

Aldar launches new rent to own scheme

Aldar / Handout via Zawya

DUBAI- Abu Dhabi developer Aldar Properties plans to invest in Fifth Wall's European Real Estate Technology Fund to tap the venture capital firm's network of so-called proptech businesses, it said on Monday without disclosing the size of the investment.

Aldar said the investment in the U.S. firm is aimed at gaining access to the latest technologies and trends driving the evolution of the real estate sector.

This access will provide Aldar with vital insights to inform its business decisions and identify solutions and potential enhancements to the group's various businesses, its statement said.

(Writing by Alexander Cornwell Editing by David Goodman) ((Alexander.Cornwell@thomsonreuters.com;))

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