(MENAFN - Khaleej Times) Abu dhabi?s private joint stock company tasweek real estate development and marketing an advisor and solutions provider serving the real estate markets earnings grew 112 per cent in 2013.
the company attributed its higher earnings to a 77 per cent increase in annual revenues as well as a 60 per cent improvement in the net profit ratio compared to 50 per cent in the previous year. tasweek shareholders have benefitted from a cumulative equity growth of 37 per cent following the company’s posting of its highest-ever profit since its inception in 2009.
dana gas officials attending the company’s annual general meeting. — supplied photo
the net profit it earned by the end of 2013 managed to top the combined profits of prior years. the real estate development and marketing firm boosted its investment portfolio by 27 per cent in 2013 as it consolidated investments in key developments such as health care city in morocco and launched major projects such as a strategically located mixed-use property comprising a hospital a five- star hotel and a residential building.
“as usual we will thoroughly explore new opportunities in the coming months to deliver a unique and unparalleled real estate experience” said nasser bin obood alfalasi chairman of tasweek real estate development and marketing. “given the turbulence of the regional and global property markets over the past few years we consider it a great achievement to have logged our fifth straight year of profitability in 2013.”