TASWEEK Real Estate Development and Marketing, an advisor and solutions provider serving the real estate markets, has announced that its Board of Directors has distributed 60 per cent of its 2013 profits to shareholders as bonus shares. This follows the company’s recent report of a record-breaking profit in 2013 that surpassed the total of all prior years to continue an excellent five-year profit run.
The Abu Dhabi –based property specialist posted a phenomenal increase in profit over 2012 driven mainly by a 77 per cent increase in annual revenues. TASWEEK also boosted its Net Profit Ratio by 60 per cent in 2013 to top the previous year’s 50 per cent. Its investment portfolio expanded by 27 per cent for the same period and saw the launching of various key projects such as a mixed-use hospital/hospitality/residential complex in Morocco and a hospitality and residential development in Malaysia.
“We have had an incredible five consecutive years of exceptional growth under our belt so far so it is but fitting that we reward our loyal stakeholders for their unwavering support and trust in our vision through this substantial profit sharing. Moving forward, we have a number of business expansion and performance improvement plans lined up for 2014 which will further sustain our momentum by leveraging some of today’s most promising real estate opportunities in Eastern Asia, the US and Europe,” said Masood Al Awar, CEO, TASWEEK Real Estate Development and Marketing.
TASWEEK Real Estate Development and Marketing is a one-stop shop for property development driven by its core competencies of networking and know-how. The company’s services include Purchase and Sale of Strategic Assets; Asset Management; Joint Ventures and Strategic Alliances; and Marketing Consultancy. Its global portfolio includes some of the most highly-sought properties in growth markets such as Malaysia and Morocco.