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TasWeek Investing Dh 1.5 Billion in the UAE Real Estate Development Projects

UAE : 09 April 2010

An Abu Dhabi firm has just estimated that it will make a minimum net profit of Dh300 million in the UAE over the next three years. Tasweek Real Estate Development and Marketing expects to make this profit from investing Dh 1.5 billion in property in Abu Dhabi and Dubai over the next three years.

A spokesperson says that the projects they are planning on investing in have the potential to make them a minimum of Dh 300 million  in net profits but the figure could also turn out to be more than this. He also said that every project being invested in is classed as a ‘trophy,’ development i.e. only projects with extremely high standards are even being considered and the location, facilities, amenities and overall quality has to be second to none and associated with the highest possible prestige. Then he went on to say that this will make every investment a very strong asset which in turn will make them a very sound investment.

The CEO of Tasweek Masood Al Awar says that included in the properties being considered are some situated in the Dubai International Financial Centre, The Palm, Jumeirah Lake Towers, Dubai Marina as well as Reem Island and Sowwah Island.

It is also believed that 40% of the properties will be situated in Abu Dhabi with approximately 60% being in the Dubai region.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
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