TASWEEK Real Estate Marketing & Development launches new property management services for Abu Dhabi & Dubai

TASWEEK Real Estate Marketing & Development launches new property management services for Abu Dhabi & Dubai

Portfolio to cover customer, financial, and facilities management plus referrals to reliable property service providers

June 20, 2010

TASWEEK Real Estate Development and Marketing, an advisor and solutions provider serving the Middle East real estate markets, has announced that it has initiated property management services in Abu Dhabi and Dubai by signing its first property management contract and has started handling a few buildings in both emirates. The new service portfolio includes customer management, financial management and restructuring, facilities management, and linkages to reliable property service providers.

TASWEEK’s property management services will help minimize the vacancies and maximize the profits of property owners by handling their operational needs on a day-to-day basis. The new portfolio will meet the growing demand for property management services within the regional real estate sector driven by high levels of competition, the availability of more products, and the need for effective cost-saving strategies.

“Our latest package of services complements our vision of becoming a one-stop shop for serving the entire real estate services and marketing chain. The UAE’s real estate market is expected to achieve a better balance between demand and supply this year and so property owners need to fully optimize their investments and do business with the right partners. We shall deliver our property management offerings with the same levels of integrity, accountability and professionalism that have helped us establish a leading position in the regional real estate markets,” said Masood Al Awar, CEO, TASWEEK Real Estate Development and Marketing.

TASWEEK’s latest lineup of services is part of expansion plans which include its entry into additional markets such as healthcare and education aside from its regular residential and commercial base. Projections of a 3.2 per cent growth in the UAE economy for 2010 have encouraged the company to consider potential property investments in Abu Dhabi and Dubai worth around AED 1.5 billion which could net AED 300 million in profits within three years.

TASWEEK Real Estate Development and Marketing facilitates Purchase and Sale of Strategic Assets; Asset Management; Joint Ventures and Strategic Alliances; and Marketing Consultancy. It reported a 5 per cent increase in shareholders’ equity during its commencement of commercial activities in 2009 and is set to post another strong year through strategic acquisitions, joint venture investments, and new services.

Tasweek Real Estate Development & Marketing to create USD250 million realty portfolio from Dubai & Abu Dhabi markets

Tasweek Real Estate Development & Marketing to create USD250 million realty portfolio from Dubai & Abu Dhabi markets

Key properties in free zones & investment zones to be acquired within the next 18 months

September 29, 2009

Tasweek Real Estate Marketing and Development, an Abu Dhabi-based property advisor and solutions provider serving the Middle East real estate markets, has announced that it plans to create a real estate investment portfolio worth USD250 million featuring key Dubai and Abu Dhabi projects within the next 18 months.

Masood Al Awar, CEO, Tasweek Real Estate Marketing and Development, said: “We plan to acquire properties in free zones and investment zones in Dubai and Abu Dhabi over the next few months. We have already begun acquiring properties using our own funds. We are ready to a steady start and are confident that we can raise the total amount we need mainly through the support of our shareholders and potential investors.”

“We have already identified some strategic locations and we are aiming for an asset structure comprising a mix of commercial, residential and retail investments,” he added.

Among the locations being eyed by Tasweek are Dubai Marina, Jumeirah Beach Residence and Dubai International Financial Centre (DIFC) in Dubai and Reem Island, Al Raha Beach, and Building Material City in Abu Dhabi. The targeted acquisitions are expected to generate a return on investment of at least 10 per cent. The company will focus on transactions that can expand its core competencies of networking and professionalism and will decide on buying single units, complete floors or even projects at the opportune time.

Tasweek recently signed management and marketing consultancy Memoranda of Understanding (MoU) with independent management and technology consulting firm RQ Associates Ltd. and strategic marketing, communication and training consultancy IK Consult Ltd. The MoUs form part of TASWEEK’s strategy of offering a one-stop shop for real estate and related services and marketing.

“We recognize the need to meet the growing market demand for efficiency and effectiveness. We want to build on solid portfolios and services and further enhance our mediation between developers, customers and banks,” concluded Al Awar.

About Tasweek:

Tasweek, a provider of comprehensive real estate development solutions for the UAE and the broader Middle East, leverages over 20 years of extensive experience in valuations, design, and real estate marketing across the UAE, GCC and MENA regions. The private joint stock company draws on its involvement in managing the properties of over 25,000 customers to ensure enhanced client satisfaction in the delivery of a diverse range of services, throughout all stages of the real estate development's lifecycle.

Through its two core competencies of knowledge and networking, Tasweek is highly capable of introducing clients to the right people, creating vital links between industry movers and players, and developing ideas to successfully bring properties to market.