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Tasweek restructures to utilize real estate upturn

tasweekTASWEEK Real Estate Development and Marketing PJSC – an advisor and solutions provider serving the real estate markets, has adopted a new organizational structure to manage the positive growth in the UAE real estate sector, driven by the increasing confidence and heightened optimism among the investors and buyers in the country.

The restructuring in its organizational structure comes amidst the TASWEEK study which revealed that the real estate industry offers amazing returns on investments between 9% and 12% per annum in the short and long-term. The TASWEEK study also emphasized that the contribution of the UAE real estate sector to the country’s Gross Domestic Product [GDP] would touch AED 118 billion by the end of 2014, staging a steady growth trend from AED 108.2 billion in 2013.

Masood Al Awar, CEO, said: “The new structure is introducing two new divisions that will be headed by the Chief Operating Officer [COO] and the Chief Business Development Officer [CBDO], who will spearhead our plans for 2014 and beyond, both local and internationally. This comes in the midst of a sustained growth curve in the real estate market across Dubai and Abu Dhabi, which is sustainable and we expect this uptrend to continue. We are also eyeing a major growth spurt, which makes us confident about the opportunities that we are eyeing across both Dubai and Abu Dhabi.

Al Awar also pointed out that the Expo 2020 win will augur well for not only the real estate and construction industry, but to other sectors as well. “Hosting the Expo 2020 is a clear testament to Dubai’s economic excellence and solid competitive fundamentals and this will have an effect on the trade, transport, logistics and hospitality sectors as well.