Monday 17 June 2024

Dubai group Aras arranges $816m funds for 100 projects

DUBAI, November 9, 2018

Aras Group, a Dubai-based diversified financing experts, has helped arrange Dh3 billion ($816 million) worth of funds for 100 projects across a diverse portfolio ranging from real estate, renewable energy and hospitality to start-ups, refineries and shippping sectors.

The company, which is involved in corporate finance, alternative investment, commercial lending as well as consulting business, has also created more than 100 special-purpose vehicles (SPVs) in the UAE and Europe to provide financial lifeline to hundreds of companies and projects and helped them come to fruition.

“Many of these projects are in the advanced stage of production and implementation,” said an Aras Group spokesman. “We have not exited any of them due to their strong growth prospects. We are happy with the way we have been able to support the private sector with our resources and co-financers,” he stated.

The company, which has a 110-strong workforce, receives a good number of project finance applications from a number of project owners every day that are been vetted by a group of specialised financing team who carry out a thorough study on the project’s commercial viability and success potentials as well as long-term sustainability.

The total value of SMEs (small and medium enterprises) in the Gulf region is tipped to more than double over the next five years, to $920 billion, according to reports.

“There may be fertile ground for mid-market companies to thrive in. But what is often missing from the picture is the right capital solution to propel the company to its next stage, and become the leading enterprises of tomorrow,” said a company spokesman.

“With banks remaining asset focused and becoming more risk-averse, mid-market firms can struggle to access traditional forms of funding. This creates a clear opportunity for private debt to fill the gap,” he stated.

According to him, Aras Group is working to support the private sector with financial solutions tailor-made for their success.

The company has a global network of financers who work with Aras Group to become angel investors, private equity partner, seed investors or Tier II investors along with the founders to offer customised investment solution for the needs of companies and start-ups, he noted.

Before any project is considered for financing they will be vetted. Aras Group use proprietary research tools and media intelligence software to screen all clients to be certain of their intentions.

"The company officials also conduct background checks and financial history verification with various institutions that specialise in providing such services. If they make it through the preliminary screening then Aras Group officials discuss financing options in face-to-face meetings," said the spokesman.

“We receive an abundance of business plans on daily basis from registered mediators and on average only about five per cent of them will be considered for evaluation,” he added.-TradeArabia News Service

Tags: Projects | Dubai group | Aras |

More Finance & Capital Market Stories

calendarCalendar of Events