Tasweek names new board members
Abu Dhabi, June 12, 2012
Abu Dhabi-based Tasweek Real Estate Development and Marketing has appointed new members to its board under the chairmanship of Mohamed Khalifa Ahmed M. Alfahed Al Mehairi.
An advisor and solutions provider serving the real estate markets, Tasweek said the new board was elected at the annual general assembly with Mohamed Khalifa and Khalid Ali Rasheed Naser Al Omaira, being retained as chairman and vice chairman respectively.
The board members include Mohamed Saif Darwish Ahmed Al Ketbi; Suhail Suhail Faris Ghanem Al Mazrouei; Saif Khalfan Mohd Khalifa Busari Al Suwaidi; Mansoor Mohamed Fadhel Mohamed Al Mehairbi; Odhaid Saeed Khalfan Saeed Bin Sdaira Al Mansouri; Nasser Ahmad Thani Bin Obood; and Marwan Faraj Ali Bin Hamooda Al Dhaheri.
Commenting on the appointment, CEO Masood Al Awar, said, "Our new leadership has expressed their intent to bring Tasweek to its fourth straight year of profit growth. Their appointment is excellently timed as we have announced our $250 million property portfolio which we have been building up since late 2009."
"Our latest organizational and operational changes are designed to ensure consistent income streams and capital growth in the coming months," he noted.
According to him, the appointees have committed to working together towards sustaining the company’s profitability, which posted the third consecutive year of growth in 2011.
Tasweek, he said, had achieved a 7 per cent profit hike in 2011 over the previous year, fuelled by a 29.8 per cent increase in investment income.
The company was also able to broaden its investment portfolio by 32.5 per cent last year and achieve a cumulative equity growth of 10 per cent for its shareholders on top of maintaining strong liquidity, Al Awar added.-TradeArabia News Service