Partnership with Tamweel announced at “optimal time”
Deyaar Development has announced that it is to provide property management and leasing services for properties owned by UAE-based real estate finance provider Tamweel.
Under the new partnership Tamweel Al Reef Villas, Arabian Ranches and Palm Jumeirah will be leased and managed by Deyaar. Commenting on the announcement, made at Cityscape Global this week, Tamweel acting CEO Varun Sood said ongoing market recovery provided the “optimal time” to review the management of Tamweel’s portfolio.
“As the UAE real estate market witnesses a sustained recovery in both sales and rentals, we considered it to be an optimal time to review the management of the properties owned by Tamweel. Deyaar’s proven track record of delivering high occupancy rates made the company a natural choice to manage and lease our properties,” he said.
Under the agreement, Deyaar’s Property Leasing Unit will manage and lease the properties on behalf of Tamweel.
“Thanks to the ambition and determination of our team, Deyaar has become one of the most successful and well-respected property management firms in the UAE. Today’s announcement strengthens this position further still, and we look forward to working with Tamweel to maximise returns on their properties,” added Deyaar CEO Saeed Al Qatami.