FINANCIAL NEWS

Tasweeq to invest in Abu Dhabi’s health sector

17 Feb 2010

(MENAFN) The Chief Executive Officer at TASWEEK Real Estate Development and Marketing said that the company will soon announce investments in the healthcare, education and hospitality sectors in Abu Dhabi, Khaleej Times reported.

TASWEEK had announced earlier a $250-million buildup of real estate investments, featuring key Dubai and Abu Dhabi projects, to be made within 18 months starting November 2009.

The company acquired a prime commercial property in Liberty House, a 42-storey mixed-use office and apartment structure within the Dubai International Financial Centre or DIFC as part of the plan.

On the prospects of the real estate sector he said that the prices of property units will largely be determined by four factors: quality, amenities, services and value for money.

Customers will be keen to buy properties even in these challenging periods at good prices if the units fare well in terms of these four criteria. However, the property investors cannot hope for unrealistic margins they were getting during the peak periods of real estate boom, he said.

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