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TASWEEK Eyes Investments Soon in Health Sector in Abu Dhabi

TASWEEK Real Estate Development and Marketing, will soon announce investments in the healthcare, education and hospitality sectors in , as part of its $250-million buildup of real estate investment portfolio.

“We will be announcing these investments in Abu Dhabi along with an investor. I can’t give you the numbers relating to these investments at this stage. But we see great investment opportunities in the health, education and hospitality sectors in Abu Dhabi. We will be keen to invest in the commercial property sector as well,” Masood Al Awar, chief executive officer of TASWEEK, said.

“Abu Dhabi’s has to develop urgently in accordance with its population growth. We would be making the investments in the development of health clinics, which will promote the concept of ‘cluster clinics’ in Abu Dhabi.” he said.

TASWEEK had announced earlier the $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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