By Andy Sambidge
Company's CEO says move aims to leverage positive business outlook in the emirate
Developer Tasweek said on Tuesday it has launched operations in Dubai as part of its ongoing global expansion plan.
The Dubai office offers the company's $250m property portfolio which includes prime developments in markets such as the UAE, Turkey, Malaysia and Morocco.
Tasweek said in a statement that the Dubai move aims to leverage the global spotlight on the emirate as it bids to host Expo 2020.
“Establishing operations in Dubai, a recognised regional and international real estate hub, puts us in a very strategic position to gain broader global attention for our multi-million dollar portfolio," said Masood Al Awar, CEO, Tasweek Real Estate Development and Marketing.
"We believe that the time is right to be highly visible in Dubai and take advantage of the prevailing positive business outlook in Dubai.”
He added that the company is currently eyeing additional opportunities in Lebanon, Iraq and Egypt.
Last month, Tasweek said it is to launch an AED500m ($136m) real estate project in Abu Dhabi this September.
Phase one of the development, which is in a currently undisclosed location in the Gulf state’s capital, will include 400 detached and semi-detached villas, as well as retail and community amenities.