Tasweek aims for 4th consecutive year of increased profitability

Tasweek Real Estate Development and Marketing (Tasweek), an advisor and solutions provider serving the real estate markets, recently named its new Board Members during its latest Annual General Assembly. The appointees have committed to working together towards sustaining the company’s profitability, which posted the third consecutive year of growth in 2011. Mohamed Khalifa Ahmed M Alfahed Al Mehairi, the retained Chairman of the Board, welcomed the members who voted for him and Khalid Ali Rasheed Naser Al Omaira, the retained Vice Chairman. “Our new leadership has expressed their intent to bring Tasweek to its fourth straight year of profit growth. Their appointment is excellently timed as we have announced our $250 million property portfolio, which we have been building up since late 2009. Our latest organisational and operational changes are designed to ensure consistent income streams and capital growth in the coming months,” said Masood Al Awar, CEO of Tasweek. Tasweek achieved a 7 per cent profit hike in 2011 over the previous year, fuelled by a 29.8 per cent increase in investment income. The company was also able to broaden its investment portfolio by 32.5 per cent last year and achieve a cumulative equity growth of 10 per cent for its shareholders on top of maintaining strong liquidity. The Tasweek Board now includes Mohamed Khalifa Ahmed M Alfahed Al Mehairi; Khalid Ali Rasheed Naser Al Omaira; Mohamed Saif Darwish Ahmed Al Ketbi; Suhail Suhail Faris Ghanem Al Mazrouei; Saif Khalfan Mohd Khalifa Busari Al Suwaidi; Mansoor Mohamed Fadhel Mohamed Al Mehairbi; Odhaid Saeed Khalfan Saeed Bin Sdaira Al Mansouri; Nasser Ahmad Thani Bin Obood; and Marwan Faraj Ali Bin Hamooda Al Dhaheri. Tasweek Real Estate Development and Marketing commenced operations in 2009 with the goal of emerging as a respected one-stop shop for property development. Its services include Purchase and Sale of Strategic Assets; Asset Management; Joint Ventures and Strategic Alliances; and Marketing Consultancy. Tasweek relies on its core competencies of networking and know-how to deliver products and services meeting both customer and market needs. Tasweek, a provider of comprehensive real estate development solutions for the UAE and the broader Middle East, leverages over 20 years of extensive experience in valuations, design, and real estate marketing across the UAE, GCC and Mena regions. The private joint stock company draws on its involvement in managing the properties of over 25,000 customers to ensure enhanced client satisfaction in the delivery of a diverse range of services, throughout all stages of the real estate development’s lifecycle.