Eshraq Properties, the Abu Dhabi-based real estate company, on Wednesday announced that it has changed its name and unveiled new corporate branding.
The company will now be known as Eshraq Investments following approval from shareholders during a general meeting.
Eshraq said the rebranding comes as it works on a "robust" pipeline of projects with all its developments making significant progress to meet their completion time.
It added that its leasing and hospitality businesses have also witnessed a steady increase in occupancy outperforming the market.
Jassim Alseddiqi, chairman of Eshraq, said: “Eshraq has significantly evolved over the last few years and it was about time its corporate identity evolved too. The new identity, which is an organic progression from its earlier identity, reflects Eshraq’s growth as a company and aptly represents its current market position as well as its future aspirations.
"We wanted Eshraq’s new identity to symbolise its corporate values and essence which are all about trust, growth and stability."
He added that the decision to change the name to Eshraq Investments was unanimous among the company’s board of directors and shareholders.
The new Eshraq branding includes a major redesign of the company’s website, logo, graphics, communications and correspondence.
On the development front, the company is developing a residential tower Marina Rise in Reem Island, Abu Dhabi which is scheduled for completion in the second quarter of 2020.
Last year, Eshraq announced a 10 percent buyback of its issued shares following approval from shareholders - the buyback program is expected to be completed by Q4 2019.
“As we roll out the new corporate identity, we remain optimistic about Eshraq’s future growth plans that are centred on developing its land bank and acquiring income generating real estate assets,” added Alseddiqi.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.