17 April 2008
KUWAIT: A leading real estate firm in Kuwait, Tamdeen Real Estate Company yesterday unveiled a new brand identity seeking to consolidate and streamline its subsidiaries and operations under one name. The new visual identity 'Tamdeen', will reflect the group's expansion strategy in new areas of business and liverage its expertise in executing mixed use retail, entertainment and hospitality projects, said Mohammed Al-Marzouk, Chairman and CEO of Tamdeen Real Estate Company.
Tamdeen's various companies have worked hard to deliver the promise of providing quality, professionalism and value to our clients and business partners," he said. He was addressing the company's annual general meeting at the 365 Degree Kuwait, a new shopping mall under construction on the Sixth Ring Road.
Founded in 1982, Tamdeen Real Estate is a public shareholding company listed on Kuwait Stock Exchange. Tamdeen Group is the umbrella brand that links the subsidiaries together under the ownership of the parent company Tamdeen Real Estate Company. The brand strategy underlines the significant growth and development of the company and comes as it celebrates more than 10 years of success in the real estate market in Kuwait," Al-Marzouk said while unveiling the new logo.
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 Entertainment, informed Muath Al-Roumi, DGM Corporate Marketing, Tamdeen Real Estate Company. "As we entered the next phase of our development plans, we realized the importance of a consistent visual identity that could unify the key characteristics of our diverse businesses and support our future growth objectives," Al-Marzouk said.
Al-Marzouk also gave an overview of the company's annual results at the annual general meeting. Tamdeen's operational revenues grew by 41 percent last year compared to the previous year while its net profit rose by 256 percent. "We have put in place a sound business strategy that has delivered the strong results," Al-Marzouk commented on the company's performance. The company's net profit reached nearly KD 16 million with a profit of 34.1 fils per share. The company's growth in total assets increased by 23 percent overall reaching KD 432 million in 2007 compared to KD 351 million in previous year.
Tamdeen's board of directors have agreed to distribute a cash dividend for the financial year that ended December 31, 2007 at a rate of 10 percent of the paid-up capital in addition to distributing bonus shares equivalent to 10 shares for each 100 shares to all shareholders.
Our achievements in the last ten years have been quite remarkable. We have grown from one company into ten different companies under Tamdeen umbrella now. More than thousand employees are working with the group today. The group's assets have grown from KD24 million to almost KD450 million today. Currently, we are executing many award winning projects. Putting everything together, we thought a new brand image will reflect what we have achieved over the years and will help us expand further in the region,Al-Marzouk explained the rationale behind launching the new brand identity.
As part our regional expansion strategy, we have entered the real estate markets in Qatar with three projects and Bahrain with one project," added Al-Roumi.
KUWAIT: A leading real estate firm in Kuwait, Tamdeen Real Estate Company yesterday unveiled a new brand identity seeking to consolidate and streamline its subsidiaries and operations under one name. The new visual identity 'Tamdeen', will reflect the group's expansion strategy in new areas of business and liverage its expertise in executing mixed use retail, entertainment and hospitality projects, said Mohammed Al-Marzouk, Chairman and CEO of Tamdeen Real Estate Company.
Tamdeen's various companies have worked hard to deliver the promise of providing quality, professionalism and value to our clients and business partners," he said. He was addressing the company's annual general meeting at the 365 Degree Kuwait, a new shopping mall under construction on the Sixth Ring Road.
Founded in 1982, Tamdeen Real Estate is a public shareholding company listed on Kuwait Stock Exchange. Tamdeen Group is the umbrella brand that links the subsidiaries together under the ownership of the parent company Tamdeen Real Estate Company. The brand strategy underlines the significant growth and development of the company and comes as it celebrates more than 10 years of success in the real estate market in Kuwait," Al-Marzouk said while unveiling the new logo.
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 Entertainment, informed Muath Al-Roumi, DGM Corporate Marketing, Tamdeen Real Estate Company. "As we entered the next phase of our development plans, we realized the importance of a consistent visual identity that could unify the key characteristics of our diverse businesses and support our future growth objectives," Al-Marzouk said.
Al-Marzouk also gave an overview of the company's annual results at the annual general meeting. Tamdeen's operational revenues grew by 41 percent last year compared to the previous year while its net profit rose by 256 percent. "We have put in place a sound business strategy that has delivered the strong results," Al-Marzouk commented on the company's performance. The company's net profit reached nearly KD 16 million with a profit of 34.1 fils per share. The company's growth in total assets increased by 23 percent overall reaching KD 432 million in 2007 compared to KD 351 million in previous year.
Tamdeen's board of directors have agreed to distribute a cash dividend for the financial year that ended December 31, 2007 at a rate of 10 percent of the paid-up capital in addition to distributing bonus shares equivalent to 10 shares for each 100 shares to all shareholders.
Our achievements in the last ten years have been quite remarkable. We have grown from one company into ten different companies under Tamdeen umbrella now. More than thousand employees are working with the group today. The group's assets have grown from KD24 million to almost KD450 million today. Currently, we are executing many award winning projects. Putting everything together, we thought a new brand image will reflect what we have achieved over the years and will help us expand further in the region,Al-Marzouk explained the rationale behind launching the new brand identity.
As part our regional expansion strategy, we have entered the real estate markets in Qatar with three projects and Bahrain with one project," added Al-Roumi.
By Sajeev K Peter
© Kuwait Times 2008
