Abu Dhabi-based Tasweek Real Estate Development and Marketing has signed a MoU with India’s Mams Holdings Group an international development and construction firm, to mutually pursue business and investment opportunities in India, the UAE and the GCC.  

As per the agreement, Mams Holdings will work with Tasweek in pursuing real estate investment opportunities and related businesses in residential, commercial and other mixed-use projects enabled with ‘smart’ technologies in India and UAE.

Tasweek, on the other hand, will provide Mams Holdings with project development and investment opportunities in the UAE and broader GCC related to real estate and potential business from Health Care and ‘smart’ Residential projects.

Both parties will mutually facilitate local prospects in the fields of ‘Smart Cities’ and ‘Smart Technologies,’ said a statement from Tasweek.

CEO Masood Al Awar said: "Tasweek shares a lot of development visions with Mams Holdings, such as a sharper focus on incorporating ‘smart’ technologies into tomorrow’s communities. Moreover, our partner has extensive experience in markets where we have already established a strong presence, such as Malaysia."

"We believe our collaboration will yield a lot of mutually beneficial business and investment opportunities and look forward to our future forays into India which is currently enjoying a buoyant property market sentiment," he stated.

Mehsan Arshad, the group director of Mams Holdings, said: "We are very happy to work with a strategic partner such as Tasweek with whom we share the values of professionalism, integrity and accountability. We also admire their diversified portfolio of real estate."

Mams is a full-service general developer, contractor, design-builder and construction company serving both the public and private sectors.

Its teaam in India has an overall experience of more than 29 years in the construction, and maintenance of high-rise buildings, towers, and gated communities.

From small site development to massive multi-billion projects, Mams Holdings is equally effective at various project scopes and sizes, said Arshad.

The company offers construction expertise in three core product lines - infrastructure, trading and information technology.-TradeArabia News Service