Tasweek bullish on Dubai and Abu Dhabi growth, eyes deals for worth Dhs1bn

November 18, 2013 5:22 am

Reinforcing its confidence in the Dubai and the UAE real estate and retail sectors, Tasweek Real Estate Development and Marketing PJSC – an advisor and solutions provider serving the real estate markets, announced that it is looking at potential deals with investors worth a whopping Dhs1bn for four iconic real-estate opportunities across Dubai and Abu Dhabi.

The potential deals currently in Tasweek’s radar include three hotel projects worth Dhs850m besides a retail development deal worth Dhs200m. The company is eyeing these deals amidst 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 2013, 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.

This is having a cascading effect on the trade and hospitality sector with surging tourism arrivals to coincide with the unveiling of new airports at Dubai World Central and Abu Dhabi. The strategic importance of the UAE as a fast-emerging global investment destination is also creating a positive influence on the real estate and business sectors across Dubai and Abu Dhabi.

In his comments, Masood Al Awar, CEO of Tasweek Real Estate Development and Marketing, 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, amidst 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 feel the time is opportune to invest strongly in iconic real-estates here.”

He added: “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. The tourism arrivals in millions within the UAE are proof enough to the growing pre-eminence of the UAE as a preferred holiday destination, which is fuelling the need for more hotel rooms and projects. We would like to play a pivotal role in this growth journey.”

The news about the forthcoming deals come close on the heels of a detailed market intelligence report by Tasweek which 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 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.