Anarock Group, a leading Indian real estate consultancy currently operating in Dubai and Abu Dhabi, is looking to expand its operations in a big way both within the UAE and beyond it to few other GCC markets, its top executive told Arabian Business.
The Group is also eyeing to enter more business verticals in the real estate and property management services, either organically or through acquisitions in the region, armed with a $25 million cash chest raised in a fresh fundraising round early this week.
“We have a strong presence in the Middle East and are constantly scoping the market for select investment opportunities, especially the kind that complement our India operations, Anuj Puri, Chairman, Anarock Group, told Arabian Business.
“We are equally focused on scaling up our existing operations, currently,” he said.
A major expansion in the operations of AnaCity, the Group’s community management services vertical, is among the new business plans on the card.
AnaCity, billed as one of the leading such service providers in the region, depends on constant technology upgrades for sustained market growth.
“There is also a lot of scope for focused agency acquisitions and any suitable opportunity will get our complete attention,” Puri said.
The Middle East is Anarock’s first and only international market so far, where it has already built up significant operational presence, outside of India.
Eyeing more markets in UAE, GCC for services in facilitating NRI investments in India, Indian investments
Anarock is also said to be eyeing expanding its real estate consultancy services in facilitating non-resident Indian investments in the property market across various Indian states, as also helping resident Indians to invest in the housing market in leading Gulf markets such as Dubai.
At present, Anarock has offices in two of the UAE emirates – Dubai and Abu Dhabi – providing market research and consultancy services for such investments.
The expansion plans are being worked on following the Group announcing raising $25 million in fresh capital from 360 ONE Asset Management Limited, a leading Indian wealth and alternate investment firm with significant real estate portfolio, early this week.
The fundraising is aimed at enabling the Group to further enhance its tech infrastructure, accelerate its expansion, and introduce new innovations to bolster its leadership position in the markets where it operates.
“This investment will go a considerable way in keeping Anarock at the forefront of the industry by fuelling further innovation and growth,” Puri said.
He said the fresh capital has been earmarked for faster business expansion and fine-tuning the company’s proprietary Proptech platforms, “which have proved to be game changers for our real estate marketing capabilities”.
“We will continue to explore new high-growth business opportunities [both in India and in the Middle East],” he said.
Move is seen to tap the surging real estate market opportunities in UAE
Sector experts see Anarock’s move to expand its UAE operations as a strategic one in the backdrop of the sustained surge in the real estate market, especially in the housing segment, in the country.
The property market in emirates like Ras Al Khaimah and Abu Dhabi are predicted to see major spikes this year, along with the high growth Dubai market.
“This is by far the most opportune time to expand our reach and services,” Puri said.
Expat Indian investment in the Indian property market is also on the rise currently – estimated to have posted up to 25 percent jump in 2023 – on the back of the faster economic growth expectations in the coming years.
“The Indian real estate sector is expected to account for 10-13 percent of India’s GDP by 2025, from its existing share of 7 percent.
“We project strong and sustained growth for the industry over the next decade, with its potential market value surpassing $1 trillion by 2030,” the Anarock top executive said.
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