Indian real estate services "Anarock" Group to expand in UAE and GCC countries
Anarock Group, a prominent real estate consultancy from India, currently active in Dubai and Abu Dhabi, is planning a significant expansion within the UAE and into several other GCC markets.
This expansion is part of the company's broader strategy to diversify its operations and business verticals in real estate and property management services. The group recently raised $25 million in funding, providing ample resources for its expansion plans, either through organic growth or strategic acquisitions.
Anuj Puri, Chairman of Anarock Group, expressed the company's focus on scaling up its existing operations while exploring investment opportunities that complement its operations in India. AnaCity, the group's community management services arm, is poised for major expansion, leveraging technology upgrades for sustained growth. Additionally, the company is open to acquiring agencies that align with its growth objectives.
While the Middle East remains Anarock's primary international market outside of India, it aims to broaden its presence further. The company is looking to enhance its consultancy services for facilitating non-resident Indian investments in Indian real estate and assisting resident Indians in property investments in prominent Gulf markets like Dubai. The recent fundraising round aims to support these expansion efforts and enhance the company's technological infrastructure.
The move to expand operations in the UAE comes at an opportune time, given the robust growth in the real estate market, particularly in segments like housing. The market outlook for emirates such as Ras Al Khaimah, Abu Dhabi, and Dubai indicates significant growth potential. Due to expectations of faster economic growth in the upcoming years, expatriate Indian investment in the Indian real estate market is also increasing.
Anarock anticipates strong and sustained growth in the Indian real estate sector, with projections indicating a significant contribution to the country's GDP by 2025. The company is strategically positioned to capitalize on these opportunities, aiming to maintain its leadership position in the markets where it operates through continuous innovation and expansion.