The establishment of Dar Istithmar Lel Aqarat (DIA) - a strategic joint venture with AIG Global Real Estate - was recently announced by UAE real estate major Istithmar in the hopes of creating a real estate fund focused on regional emerging markets.
The establishment of Dar Istithmar Lel Aqarat is expected to create a unique platform to invest in property markets throughout the Middle East, North Africa, India, Pakistan, Turkey and other emerging markets, according to Khaleej Times.
The new fund will be well positioned to draw on the synergies of Istithmar's extensive knowledge of regional markets and strong reputation in the region, as well as AIG Global Real Estate's global property development experience say industry experts.
"Real estate has evolved as a fundamental asset class that can reduce risk in a multi-asset portfolio,” explained Richard Johnson, Managing Director-Real Estate at Istithmar.
“Its growth and popularity as an alternative investment in emerging markets has been catalyzed by higher transparency and liquidity. Istithmar is pleased to partner with an AIG Global Real Estate member company to form a platform that unlocks the intrinsic value of this sector and benefits from the substantial growth that is being witnessed in regional and emerging real estate markets,” he continued, expressing optimism about the prospects for successful cooperation in creation of Dar Istithmar Lel Aqarat.
