Tasweek eyes $272m potential deals
Dubai, November 17, 2013
Tasweek Real Estate Development and Marketing, an advisor and solutions provider serving the real estate markets, said it is looking at potential deals with investors worth Dh1 billion ($272.2 million) for four real estate opportunities across Dubai and Abu Dhabi.
The potential deals include three hotel projects worth Dh850 million besides a retail development deal worth Dh200 million. The company is eyeing these deals amid an optimistic investor appetite for high quality assets and surging market confidence in Dubai and across the UAE, as per the intelligence report by Tasweek.
The anticipation that Dubai will win the Expo 2020 bid, which is due to be announced in the last week of November, is fuelling positive sentiment and attractive investment climate in the emirate’s real estate sector even as the interest by local and foreign investors in the property and retail industry in Dubai continues to grow, it said.
Masood Al Awar, CEO, Tasweek, said: “We are thrilled to announce that we are looking to contributing to the positive growth sentiment by engaging in potential deals with the investors community in the UAE, amid the heightened business confidence. The surge in various business sectors – from trade to hospitality to tourism – is having an effect on the capital inflow and investments within Dubai and Abu Dhabi and as one of the leading players in the sectors.”
“We have in place some amazing plans for the deals that we are talking about. Our strategy is aimed at driving interest and strengthening the emirate’s competitive edge as a favorable investment destination – not only in real estate but across a wide array of business sectors,” he added.
A recent detailed market intelligence report by Tasweek anticipated a sustained uptrend for the UAE real estate sector through 2014 and beyond.
The prospects are good for the UAE’s endured property market rally – Abu Dhabi’s up-tempo market and Dubai’s return as a preferred global real estate hub provide sufficient boosts to maintain momentum through next year, it said.
Tasweek has been showcasing its two core competencies of networking and extensive market knowledge as it continues its expansion into the international markets. The company offers expertise in purchase and sale of strategic assets; asset management; joint ventures and strategic alliances; and marketing consultancy. - TradeArabia News Service