KUWAIT CITY : Tamdeen Real Estate Company, a leading real estate company with a successful track record in the development of mixed use retail, entertainment and hospitality projects, revealed its new logo and brand identity Wednesday at its Annual General Meeting held at the location of its new shopping mall complex project, 360 degrees Kuwait. Mohammed Al-Marzouk, Chairman and CEO of Tamdeen Real Estate Company, announced the annual results and unveiled the new logo of Tamdeen that will strengthen the organization and encompass its wide-raging subsidiaries under one name. "We are launching our new Tamdeen Group identity as we achieved exceptional financial results last year. Our operational revenue increased by 41 percent compared to the previous year and we witnessed a phenomenal growth in net profit, which increased by 256 percent," he added.
Results
Tamdeen Real Estate adopted a sound business strategy and it delivered strong results. The company's net profit reached nearly KD16 million, with a profit of 34.1 fils per share. In addition to this, the company's growth in total assets increased by overall 23 percent, reaching KD 432 million in 2007 compared to KD 351 million the previous year. Tamdeen's Board of Directors have agreed to distribute a cash divided for the financial year that ended on December 31, 2007 at a rate of 10 percent of the paid up capital, in addition to distributing 10 bonus shares for every 100 shares owned by shareholders. Al-Marzouk added, "our exceptional results in 2007 reflect the strategic planning, business focus as well as the dedication of our expert teams throughout the Tamdeen group over the last years. The quality of our projects has been recognized and we won international architectural awards for our development projects and this demonstrates that our successful journey is continuing over the years."
The new visual identity is being supported by the slogan "Deliver the Promise" and is indicative of Tamdeen's dynamic expansion strategy in new areas of business. The company has been leveraging its competences in hospitality, retail management, entertainment and related financial investment services and has built up a strong group of companies with dedicated expertise and proven track records in Kuwait and through its network of subsidiaries.
"Tamdeen's various companies have worked hard to deliver the promise of providing quality, professionalism and value to our clients and business partners through a comprehensive range of services in the field of mixed-use real estate developments and related investment services," said Al-Marzouk.
"In order to progress to the next phase in our business development plans, we realized the importance of developing a consistent visual identity that both reflects and unifies the key characteristics of our diverse businesses and supports our futures growth objectives."
"This exciting new step will now unify all our companies under one very strong umbrella brand which will help streamline our branding and advertising activities more efficiently and effectively; both in terms of providing a more identifiable image to our customers and other stakeholders as well as helping us achieve a greater marketing productivity," continued Marzouk.
Al-Marzouk added "our new brand identity and slogan are being developed from position of strength and clearly reflect the maturity, sophistication and international quality of Tamdeen brand and our commitment to excellence."
Decision
The company recognized the importance of seeking a new group identity to simplify the names of the different subsidiaries and make the overall brand more recognizable. The decision to go with Tamdeen Group as the master brand was borne out of lengthy consultation and research.
The research confirmed broad market awareness of Tamdeen Real Estate as a brand amongst consumers and identified the benefits of establishing a consolidated and consistent look and feel for the various subsidiary brands. The brand harmony is to be further enhanced by retaining Tamdeen's name as the core element of the new brand concept, thereby leveraging its reputation as a successful commercial entity that has earned a strong reputation in the market.
The new identity is distinguished by distinct and vibrant colors, with each color representing a different company in the group: orange for Tamdeen Shopping Centers, turquoise for Tamdeen Investment, Red for Tamdeen Holding and purple for Tamdeen Entertain-ment. Tamdeen Group is the umbrella brand that links the subsidiaries together under the ownership of the parent company, which is Tamdeen Real Estate Company. The new brand strategy decision reflects the significant growth and development of the company in recent years and comes as the company celebrates more than 10 years of success in real estate market in Kuwait. The company's impressive results reflect its achievements and confirm that it is a success story in Kuwait's private sector.
By Abubakar A. Ibrahim
© Arab Times 2008
