Masood Al Awar, CEO of Tasweek
Tasweek Real Estate Marketing and Development, a leading property advisor and solutions provider, says that easy access to mortgage financing has helped sustain Abu Dhabi’s property sector amidst the global economic crisis. The company presented key trends in mortgage marketing on (Monday, April 18, 2011) the second day of CITYSCAPE Abu Dhabi, the local edition of the region's premier real estate investment and development event which began yesterday and runs until April 20, 2011 at the Abu Dhabi National Exhibition Centre.
Masood Al Awar, CEO of Tasweek, delivered a speech on mortgaging’s impact on the growth of Abu Dhabi’s real estate business. He discussed the development of regulatory frameworks for the issuance of mortgages and identified legislative changes needed to enhance the local mortgage system. Al Awar also evaluated criteria for ensuring sustainable mortgage financing and talked about the benefits of a robust housing financing system.
“Mortgage financing has been playing a major role in keeping Abu Dhabi’s real estate market attractive and productive. It is thus vital for industry to understand key mortgage trends and adjust their activities accordingly. A survey conducted as a run-up to CITYSCAPE Abu Dhabi shows that more than 25 percent of property professionals in the Middle East have limited understanding of the Abu Dhabi market. Mortgage financing is an area that needs to be explained further to help investors and developers maximize existing and upcoming opportunities,” said Al Awar.
The 5th CITYSCAPE Abu Dhabi features the Middle East Real Estate Summit, a forum where leading property experts will discuss top industry issues and topics. Other highlights include investor roundtables, networking sessions and the Awards for Real Estate in the Middle East and North Africa. Cityscape Abu Dhabi is organized by Cityscape, a division of IIR Middle East – the region’s leading event organizer. This year’s edition is being held under the patronage of H.H. Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
Backed by more than 20 years of innovation and leadership, Tasweek Real Estate Development and Marketing has emerged as a one-stop shop for the region’s real estate and related services and marketing. The company’s offerings include Purchase and Sale of Strategic Assets; Asset Management; Joint Ventures and Strategic Alliances; and Marketing Consultancy. Recent studies conducted by Tasweek show that the UAE’s real estate market is stabilizing and will require improvements in real estate financing and legislation to sustain investor confidence.