Tamdeen unveils new identity
Kuwait, April 17, 2008
Tamdeen Real Estate Company has revealed a new brand and identity to encompass its wide-ranging subsidiaries under inclusive identity of “Tamdeen”.
The new visual identity is being supported by the slogan “Deliver The Promise” and is indicative of Tamdeen’s dynamic expansion strategy in new areas of business, the company said in a statement.
The company has been leveraging its competencies in hospitality, retail management, entertainment and related financial investment services and has built up a strong group of companies with dedicated expertise and proven track records in Kuwait and through its network of subsidiaries, it added.
“Tamdeen’s various companies have worked hard to deliver the promise of providing quality, professionalism and value to our clients and business partners through a comprehensive range of services in the field of mixed-use real estate developments and related investment services,” said Tamdeen Real Estate Company Chairman and CEO Mohammed Al Marzouk.
“In order for us to progress to the next phase in our business development plans, we realized the importance of developing a consistent visual identity that both reflects and unifies the key characteristics of our diverse businesses and supports our future growth objectives,” he said.
“This exciting new step will now unify all of our companies under one very strong umbrella brand which will help streamline our branding and advertising activities more efficiently and effectively; both in terms of providing a more identifiable image to our customers and other stakeholders as well as helping us to achieve greater marketing productivity,” said Al Marzouk.
The company recognised the importance of seeking a new group identity to simplify the names of the different subsidiaries and make the overall brand more recognisable. The decision to go with Tamdeen Group as the master brand was borne out of lengthy consultation and research.
The research confirmed broad market awareness of Tamdeen Real Estate as a brand amongst consumers and identified the benefits of establishing a consolidated and consistent look and feel for the various subsidiary brands.
The new brand strategy decision reflects the significant growth and development of the company in recent years and comes as the company celebrates more than 10 years of success in the real estate market in Kuwait. The company’s impressive results reflect the developments achieved and confirm it as a Kuwaiti private sector success story.
Al Marzouk announced the annual results and unveiled the new logo for Tamdeen at the company’s annual general meeting.
“We are launching our new Tamdeen Group identify at our Annual General Meeting as we announce exceptional financial results during the last year, which witnessed a substantial improvement of operational revenues of 41 per cent compared to the previous year, as well as a phenomenal growth in net profit equal to 256 per cent,” he said.
The company’s net profit reached nearly KD16 million ($60m), with a profit of 34.1 fils per share. In addition to this the company’s growth in total assets increased by 23 per cent overall, reaching KD432 million in 2007 compared to KD351 million in previous year.
Tamdeen’s Board of Directors have agreed to distribute a cash dividend for the financial year that ended on 31st December, 2007 at a rate of 10 per cent of the paid up capital, in addition to distributing bonus shares equivalent to 10 shares for each 100 shares to all shareholders.
”Our exceptional results in 2007 reflect the strategic planning, business focus a well as the dedication of our expert teams throughout the Tamdeen group over the last years. The quality of our developments has been recognized by winning international architectural awards for our development projects and demonstrates a continuation of our successful achievements over the years,” said<