Tasweek distributes 60pc of profit as bonus shares
Abu Dhabi, May 1, 2014
Abu Dhabi–based Tasweek Real Estate Development and Marketing, an advisor and solutions provider serving the real estate markets, has distributed 60 per cent of its 2013 profits to shareholders as bonus shares.
This follows the company’s recent report of a record-breaking profit in 2013 that surpassed the total of all prior years to continue a five-year profit run.
The property specialist posted a 77 per cent increase in annual revenues over 2012. Tasweek also boosted its net profit ratio by 60 per cent in 2013 to top the previous year’s 50 per cent.
Its investment portfolio expanded by 27 per cent for the same period and saw the launching of various key projects such as a mixed-use hospital/hospitality/residential complex in Morocco and a hospitality and residential development in Malaysia.
“We have had an incredible five consecutive years of exceptional growth under our belt so far so it is but fitting that we reward our loyal stakeholders for their unwavering support and trust in our vision through this substantial profit sharing,” said Masood Al Awar, CEO, Tasweek Real Estate Development and Marketing.
“Moving forward, we have a number of business expansion and performance improvement plans lined up for 2014 which will further sustain our momentum by leveraging some of today’s most promising real estate opportunities in Eastern Asia, the US and Europe.” – TradeArabia News Service