Tabarak Investment has announced the acquisition of a stake of over 80 percent in Abu Dhabi’s Tasweek Real Estate Development and Marketing.
The acquisition comes as part of Tabarak’s plans to diversify and support its real estate portfolio, the company said in a statement.
It added that the portfolio now includes Tasweek’s international real estate investments in Marrakesh Healthcare City, Morocco and Casabrina Vacation Villas in Malaysia.
Ahmad Kilani, CEO at Tabarak, said: “We are delighted to start our investment year with this announcement, which represents a milestone in our opportunistic investment plan for the year.
"In the near future, Tasweek’s current investment portfolio will witness additional projects that are directly related to Tabarak’s investments.”
He added: “Tasweek’s innovative real estate offerings has proven its unique proposition. Benefiting from our network and market exposure, we are expecting high market demand in Tasweek’s local and international real estate projects.”
Established in 2011 in Abu Dhabi, Tabarak Investment is a private equity firm with interests in real estate, education, insurance, logistics and finance.
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