Dubai-based Tasweek Real Estate Development and Marketing has announced plans to pursue growth prospects in promising segments such as smart technologies for food and beverages (F&B), entertainment and sports.

The announcement was made during its recent sixth annual general meeting, where corporate board was also re-elected.

The company plans to explore potential joint ventures and new markets to achieve higher levels of organisational excellence and growth.

One segment Tasweek is eyeing is smart F&B technologies, which is expected to grow its sales values by an average of eight per cent annually through 2019. Around 19,000 additional F&B outlets are expected in the UAE by 2019, making F&B a potentially lucrative sector for real estate development.

With consumer confidence growing across the GCC and market demand expected to grow towards Expo 2020, Tasweek expects entertainment projects, sports activities, community developments and mega-projects such as Dubai’s ambitious Mall of the World to gain more traction and interest.

“Although Tasweek is proud of how it has managed to become an industry leader in the span of just six years, we recognise the importance of constantly aiming higher and broadening our market reach,” ,” said Masood Al Awar, CEO, Tasweek Real Estate Development and Marketing.

“With our leadership intact and our business performance as sharp as ever, we intend to make our presence felt in markets that are not that familiar to us but which promise excellent levels of return for our business and for our clients. We are also open to forging new partnerships that will enable us to jointly seek prime opportunities,” he added. – TradeArabia News Service