Tasweek Plans to Create Real Estate Investment Portfolio

Tasweek Real Estate Marketing and Development has announced that it is planning to create a real estate investment portfolio worth $250 million. This investment portfolio feature key Abu Dhabi and Dubai projects in next 18 months. Tasweek is an Abu Dhabi based property solutions provider and advisor serving Middle East property markets. The locations chosen by Tasweek include Jumeirah Beach Residence, Dubai Marina, Al Raha Beach, Dubai International Financial Centre in Dubai and Reem Island and building material city in Abu Dhabi.

The CEO, Tasweek Real Estate Marketing and Development, Masood Al Awar 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".

The targeted acquisitions are expected to generate returns on investment. The company focuses on its core competencies of professionalism and is deciding to buy complete floors, single units or other projects at the opportune time. It has recently signed the marketing and management consultancy Memoranda of Understanding (MoU) with RQ Associates Ltd. and IK Consult Ltd. RQ is the independent technology and management consulting firm and IK is the communication and training consultancy firm.

Al Awar concluded by saying that: “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.”