TASWEEK Real Estate Marketing and Development, an advisor and solutions provider serving the property markets, has announced that it has signed a Memorandum of Understanding (MoU) with MILLENNIUM Development International (MDI) with the aim of structuring their commercial and professional relationship on real estate development projects worldwide. The strategic partnership forms part of TASWEEK initiatives to broaden its reach within the Arab markets.
As part of its expansion efforts, TASWEEK recently launched Marrakech Healthcare City, a sprawling USD 40 million residential and healthcare project located at Morocco’s third largest city. The development is scheduled for completion within 24 months and is part of TASWEEK’s USD 250 million international portfolio.
“Over the past four years, TASWEEK has been carefully growing its real estate investment portfolio in strategic markets and adding value to its shareholders through major alliances with recognized partners and professionals in our industry,” said Masood Al Awar, CEO TASWEEK Real Estate Marketing and Development. “The cooperative agreement with MILLENNIUM Development International will capitalize on the best of two worlds: TASWEEK’s solid base of real estate development investments and marketing alongside MILLENNIUM’s global and regional expertise in large and mixed use projects. Together and alongside our entrusted investment partners, we shall accelerate the delivery of our projects in the strategic markets we are already in and open other markets with promising futures such as Iraq, Egypt and Turkey.”
“Making cities and communities for people has been our team’s core competency in development management for more than 15 years,” added Ousamma Kabbani, Chairman and Managing Director, MILLENNIUM Development International. “Our experience in managing many complex, large-scale projects has gained us regional and international recognition. We are very optimistic and excited about our cooperation and future prospects with TASWEEK as it is based on the kind of synergies necessary for success in the post-2008 market place, bringing a strong base of investment, development management and construction delivery. Through this venture, we aspire to be jointly recognized in the region and beyond as leading developers offering quality, sustainability and profitability. We hope that we will be able to announce our first joint venture in the first quarter of 2013.”
TASWEEK Real Estate Development and Marketing is eyeing expansion into European, Asian and other key growth markets. Backed by over 20 years of innovation, leadership and market expertise in the MENA property sector, TASWEEK offers a one-stop-shop for all real estate needs. The company’s comprehensive service portfolio spans Purchase and Sale of Strategic Assets; Asset Management; Joint Ventures and Strategic Alliances; and Marketing Consultancy.