Global Arab Network | Abu Dhabi to become MENA region's top real estate market in 2 years

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Abu Dhabi to become MENA region's top real estate market in 2 years

Global Arab Network - - George Haddad

Monday, 02 November 2009 11:40

TASWEEK Real Estate Development and Marketing, an Abu Dhabi-based property advisor and solutions provider serving the Middle East real estate markets, will outline innovative strategies for further growing Abu Dhabi's developing property sector tomorrow (Tuesday, November 3, 2009), the second and last day of the 2009 Abu Dhabi Outlook Summit which starts today (Monday, November 2, 2009) at the Hilton - Abu Dhabi.

CEO Masood Al Awar will deliver a presentation on consumer trust, the state of Abu Dhabi's real estate industry and its future performance, market opportunities, and TASWEEK's unique service strategies during the Summit. TASWEEK is currently strengthening its position within the UAE's property segment, recently announcing that it will be generating income within the next 18 months through strategic Dubai and Abu Dhabi real estate investments worth USD250 million.

"The outlook for Abu Dhabi's property sector is very positive, as construction and real estate presently account for only 9 per cent of local GDP. In fact, a recent survey of 200 investors reveals that Abu Dhabi is expected to become the MENA's top property market within the next two years. However, although there are excellent opportunities available, the market has become highly competitive. Fresher strategies have to be adopted to identify and secure the best prospects," said Masood.

Abu Dhabi's total civil, infrastructure and real estate projects are valued at around USD254 billion, with around USD183 Billion in the execution phase. There remains a substantial shortage of residential and commercial space. TASWEEK offers a comprehensive portfolio of marketing and development services to assist buyers, sellers, investors and developers in taking advantage of the emirate's rapidly expanding real estate industry.

Abu Dhabi Outlook Summit will gather decision makers to discuss expansion and investment opportunities in the Middle East. Participants will focus on the four industry sectors of Infrastructure, Healthcare, Real Estate and Hospitality, and Energy. The Summit is under the patronage of UAE Minister of Economy H.E. Eng. Sultan Bin Saeed Al Mansoori.

TASWEEK Real Estate Development and Marketing was formed as a private joint stock company in 2008 by prominent members of Abu Dhabi's business community. It conducts business through the core principles of Business Ethics, Networking and Know-how. The company has signed Memoranda of Understanding key partners to become a one-stop shop for real estate and related services and marketing.

Global Arab Network

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