UAE real estate surge to accelerate with Expo 2020 win: Tasweek

December 15, 2013 12:00 pm

Dubai’s successful bid to host the Expo 2020 in the Emirate will lead to exponential growth across a wide array of business sectors, with the UAE real estate sector being the major benefactor, said Tasweek Real Estate Development and Marketing PJSC – an advisor and solutions provider serving the real estate markets.

Reinforcing its first-mover advantage with its credibility, foresight and thorough understanding of the potential and future trends of the UAE and regional real estate market, Tasweek had recently announced plans to enter into massive real estate deals across the UAE worth a whopping Dhs1bn with the investor community.

The Expo bid win would accelerate development of iconic projects and lead to new project launches across the UAE and beyond, feels Tasweek, which is into the marketing and advisory of real estate business. The company provides added value with its expertise and market knowledge about the real estate sector’s growth trajectory.

The company also congratulated the government of Dubai and the UAE for its far-sighted vision on winning the coveted Expo 2020 in Dubai, which will not only provide a much-needed succor to the real estate sector but also usher in a major boost to various business sectors – from hospitality, tourism, trade, shipping to logistics.

In his comments, Masood Al Awar, CEO of Tasweek Real Estate Development and Marketing, said, “First of all, we would like to congratulate the leadership of the UAE and Dubai for a well-deserved bid to host the prestigious Expo 2020 in Dubai. This winning bid marks a new era of Dubai’s economic development and reflects the Emirate’s leading international position. Hosting the Expo 2020 is a clear testament to Dubai’s economic excellence and solid competitive fundamentals, which comprise modern infrastructure and advanced legislative systems attracting regional and international investments, in addition to the Emirate’s safe haven status and the social harmony enjoyed by its multicultural community, and consistent with the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to establish Dubai as an investment hub.”

He added, “While Dubai has all the credentials to host the iconic event, we are confident that the same will have a cascading effect on the hugely positive sentiment generated across the entire spectrum of business in the UAE and Dubai, especially in the real estate sector. We have once again emphasized our knowledge and understanding of the market by announcing real estate deals that worth Dhs1bn across Dubai and Abu Dhabi. As one of the leading companies in the sector, we have the expertise to support more investments and contribute to the positive growth trend.”

Mr Al Awar also, said, “The boom in various business sectors – from trade to hospitality to tourism – is having an effect on the capital inflow and investments within the UAE and we have in place some amazing plans for the projects that we are talking about. We also plan to play a pivotal role in promoting the UAE across the MENA region with our investments beyond UAE. Our strategy is aimed at driving interest and strengthening UAE’s competitive edge as a favorable investment destination.”

Tasweek’s deals include four iconic deals which encompass three hotel projects worth Dhs850m besides a retail development deal worth Dhs200m. The optimism would also cascade into the trade and hospitality sector with surging tourism arrivals to coincide with the unveiling of new airports at Dubai World Central and Abu Dhabi, announced Tasweek in its report. The company expects current growth in the real estate market in Dubai and Abou Dhabi, 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.

Tasweek Real Estate Development and Marketing 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.