Tasweek, Beyttürk strengthen ties
Dubai, April 18, 2013
Tasweek Real Estate Development and Marketing it has signed a memorandum of understanding (MoU) with Beyttürk, a group of companies with a mission of enhancing commercial relations between Turkey and GCC countries.
The agreement which was signed by Beyttürk Chairman, Muhammet Ugurcan Barman, and Masood Al Awar, CEO of Tasweek, will allow Tasweek to market strategic real estate projects under Beyttürk’s wings to the Mena region, acquire investment assets, and engage in joint venture development.
Beyttürk, on the other hand, will constantly feed marketing and investment opportunities to its new partner and provide the necessary support to facilitate business, a statement from Tasweek said.
The company has been involved in various housing projects and began its particular focus on promoting local developments to Gulf countries in 2008 in line with the vision of Turkish Prime Minister Recep Tayyip Erdoğan. It has been marketing a number of projects formed in cooperation Gulf companies through its subsidiary, KhaleejTurk Property.
The initial focus of Tasweek under the partnership is the promotion of Beyttürk’s ‘Dreamland’ project, a picturesque 44-unit, 26,000 m2 villa complex arising in the northwestern city of Yalova.
Located at the Termal district, an area famous for its hot springs, Dreamland is located an hour away from Turkey’s three largest cities – Istanbul, Bursa and Izmir.
“Turkey’s growing reputation as a real estate has been partly driven by the arrival of global players who have made the market more competitive and exposed to international buyers. Given its specific focus on the Gulf as a property partner, Turkey is a high-potential market we intend to fully explore through our alliance with Beyttürk. Our participation in Cityscape Abu Dhabi 2013 is a first step in introducing some of Beyttürk’s top Turkish real estate offerings to major Middle Eastern investors,” said Masood Al Awar, CEO, Tasweek Real Estate Marketing & Development.
Tasweek exhibited unique real estate products from Beyttürk and its other global partners comprising its extensive $250 million portfolio during Cityscape Abu Dhabi 2013.
Beyttürk is a group of companies with the same corporate structure that includes Dünya Construction, Nuren Tourism, Bahrain Investment Group, Gulf Turkey Trade and KhaleejTurk Property. It has forged partnerships with various investment companies in Kuwait, Bahrain, and other parts of the Gulf. – TradeArabia News Service