Tasweek expects 2013 profit to surge as IPO thoughts prevail
Abu Dhabi-based Tasweek Real Estate Development and Marketing PJSC, an advisor and solutions provider serving the real estate markets in the UAE with additional projects in Malaysia and Morocco, on March 12 said the strong recovery of the UAE’s property sector makes it worthwhile to seriously consider an initial public offering (IPO) at a stock exchange in the UAE to raise capital for further expansion.
This news come as the company says its 2013 profits will surge for a fifth year in a row.
Tasweek currently has a portfolio worth $250 million with assets in residential, commercial, hospitality and healthcare property which is going to be further diversified by upcoming projects in Abu Dhabi, Dubai and other parts of the Gulf region.
“We witnessed amazing growth across various investments in the last year and are quite bullish that this trend continues in 2014,” says Tasweek’s CEO Masood Al Awar.
“The market potential in the real estate sector makes it very encouraging for us to pursue our IPO plans more intensely,” he adds.
Al Awar says he expects a lot of investment across other business sectors as well, “more so with the Expo 2020 win, which will bring in more capital inflow into the UAE and, overall, augurs well for our growth.”
Tasweek, whose business involves expertise in purchase and sale of strategic assets, asset management, joint ventures and strategic partnerships, as well as marketing consultancy, looks back on five years of continuous growth in its business, having expanded internationally since. In a latest study, the company revealed that the real estate industry in the UAE will offer returns on investments between 9 and 12 per cent per annum in the short and long-term.
[caption id="attachment_21543" align="alignleft" width="200"] Tasweek's CEO Masood Al Awar[/caption] Abu Dhabi-based Tasweek Real Estate Development and Marketing PJSC, an advisor and solutions provider serving the real estate markets in the UAE with additional projects in Malaysia and Morocco, on March 12 said the strong recovery of the UAE's property sector makes it worthwhile to seriously consider an initial public offering (IPO) at a stock exchange in the UAE to raise capital for further expansion. This news come as the company says its 2013 profits will surge for a fifth year in a row. Tasweek currently has a portfolio worth $250...
Abu Dhabi-based Tasweek Real Estate Development and Marketing PJSC, an advisor and solutions provider serving the real estate markets in the UAE with additional projects in Malaysia and Morocco, on March 12 said the strong recovery of the UAE’s property sector makes it worthwhile to seriously consider an initial public offering (IPO) at a stock exchange in the UAE to raise capital for further expansion.
This news come as the company says its 2013 profits will surge for a fifth year in a row.
Tasweek currently has a portfolio worth $250 million with assets in residential, commercial, hospitality and healthcare property which is going to be further diversified by upcoming projects in Abu Dhabi, Dubai and other parts of the Gulf region.
“We witnessed amazing growth across various investments in the last year and are quite bullish that this trend continues in 2014,” says Tasweek’s CEO Masood Al Awar.
“The market potential in the real estate sector makes it very encouraging for us to pursue our IPO plans more intensely,” he adds.
Al Awar says he expects a lot of investment across other business sectors as well, “more so with the Expo 2020 win, which will bring in more capital inflow into the UAE and, overall, augurs well for our growth.”
Tasweek, whose business involves expertise in purchase and sale of strategic assets, asset management, joint ventures and strategic partnerships, as well as marketing consultancy, looks back on five years of continuous growth in its business, having expanded internationally since. In a latest study, the company revealed that the real estate industry in the UAE will offer returns on investments between 9 and 12 per cent per annum in the short and long-term.
