UAE and Tasweek eager on luxury real estate in Malaysia
Tasweek Real Estate Development and Marketing is based on UAE and are falsifying into the Malaysian real estate market along with its joint venture with Casabrina Vacation Villas. The main aim of the joint venture development of Tasweek is to develop, own, operate and market luxury properties in Malaysia also to all the potential investors from the Middle East.
In recent times, the joint venture deal is being completed which is the part of Tasweek’s US$250 million property portfolio and also it reflects the company’s investment focus on the Malaysia’s flourishing tourism industry. According to the paper, there are different terms and conditions of the joint venture, and it said that Tasweek will market nine boutique villa hotels under a Shariah-compliant scheme.
Out of the nine boutique villa, each villa under the joint venture of Tasweek will offer all the investors a unique and beautiful design along with the completion of the approved building plans and occupies between one and three acres of freehold land. As informed by Tasweek, all the lands will be less than an hour’s drive from the Petronas Twin Towers in Kuala Lumpur. The project will comprise 11 exclusive six- and eight-bedroom suites located at the foothills of Bukit Frasier in Pahang in west Malaysia. The nature of the Western Malaysia is a hit amongst the foreign investors.
As informed by Masood Al Awar, CEO of Tasweek Real Estate Development and Marketing, “Our venture with Casabrina Vacation Villas enables us to have a direct hand in overseeing and promoting this captivating Malaysian development. Interest among Middle Eastern buyers is quite high, which is why we decided to have a greater stake in the villas.” The company, Tasweek expects that its new collection so that it can generate an annual investment to capitulate the five to seven percent.