Zabeel Investments, the UAE-based multi-diversified investment company, has entered into an equity partnership with property services leader Asteco. The partnership will invigorate Asteco’s regional growth and further boost business leads and revenue for the company. The collaboration will also help Zabeel Investments to enhance after sales service, leasing and property management services.
“This is a strategic move for Asteco and demonstrates our ambition. Asteco is one of the oldest real estate companies in the UAE, and its experience and expertise are increasingly in demand regionally and internationally. Joining forces with Zabeel Investments will further raise the company’s profile, and bolster its reputation for delivering world-class property services consultancy,” said Asteco CEO Elaine Jones.
Zabeel Investments has multi-diverse business interests spanning various economic sectors including commercial real estate development and management, private equity and asset management in the UAE, GCC and international markets.
The company has already established itself in the real estate sector with the development of Tiara Residence, the multi-gated community development on the Palm Jumeirah, and its innovative offer of a 30 per cent rental return guarantee scheme over a period of three years for customers.
Zabeel Investments Executive Chairman, Mohammed Ali Al Hashimi, said: “Zabeel and Asteco already share a successful professional relationship and work together on a number of projects. Our ambitious plans and investment skills complement the market knowledge and specialist services of Asteco, so itwas a logical and strategic decision to invest in Asteco. This partnership will not only help us increase our sales but also enhance our after sales service, leasing and property management services.”
Zabeel Investments and Asteco cooperate on a number of signature projects in Dubai including Tiara Residence and Anantara Resort, a distinctive destination epitomising true elegance and style as well as offering the finest traditions of Asian hospitality.
“I am delighted by this event and believe that it is a very healthy move for Asteco,” said Mohammed Ben Sulayem, Board Member of Asteco Property Management
Asteco is the UAE’s largest property services company. Founded in Dubai in 1985, its services include retail, commercial and residential sales and leasing; strategic consultancy; property management and marketing; feasibility studies and valuations; and research and investment.