TASWEEK Real Estate Development and Marketing, an Abu Dhabi-based advisor and solutions provider serving the local and the Middle East real estate markets, has evaluated and completed due diligence on properties in Abu Dhabi and Dubai worth AED 1.5 billion in total. The projects have the potential to bring in a minimum net income profit of AED 300 million for the company over a period of three years. All projects within the portfolio must be classified and qualified as trophy assets that have components of Location, Facilities, Amenities and Quality which makes them fundamentally strong assets.

The portfolio contains Residential assets (35 per cent), Commercial (30 per cent) and Hospitality (35 per cent), with value per property ranging from AED 40 million to AED 450 million It involves a total of AED 500 million in financing and AED 1 Billion in equity . Dubai projects form the majority of the investment opportunities at 60 per cent, with Abu Dhabi developments accounting for 40 per cent.

The TASWEEK real-estate development and marketing brand of real estate has been gaining greater market acceptability due to the company’s focus on robust business acumen and market knowledge. The company has been undertaking due diligence and intense research for the portfolio buildup worth USD 250 million which was announced last October 2009 and will be executed over the coming 12 months. TASWEEK is basing its selections on location, facilities, amenities, quality, and income-bearing assets and is concentrating on the UAE market which continues to offer one of the highest yields in the region.

“We are being extra careful with our project choices given the numerous investment opportunities currently available in the markets. Although we have significantly enhanced our capability to attract offers and proposals, we want to maintain our momentum without compromising the quality of our portfolio. We are also aiming for a diverse lineup of properties that can cater to unique residential and commercial needs,” said Masood Al Awar, CEO, TASWEEK Real Estate Development and Marketing.

Healthcare and education developments are also being eyed for the TASWEEK portfolio, which is also open to other greenfield projects within the growing sector of real estate.

TASWEEK is currently exploring strategic location properties in Abu Dhabi and Dubai as part of the multi-million dollar property portfolio that will generate a return on investment of at least 10 per cent. The private joint stock company’s expertise covers Strategic Assets Acquisitions; Asset Management; Joint Ventures and Strategic Alliances; and Marketing Consultancy.
 

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