Top property consultancy company to be gold sponsors of 3-day show, Participation boosts AMS' reputation as quality leaders in value chain
Dubai, May 31st, 2008: Aswaq Management & Services (AMS), the Abu Dhabi-based mixed-use property consultancy, sales and leasing company, will be showcasing the entire gamut of its iconic retail, commercial and commercial projects at Retail City 2008 the leading international exhibition and conference focusing on retail developments scheduled to be held in Dubai next week.
During the exhibition and conference being organised from June 1 to 3 at the Dubai International Convention and Exhibition Centre, AMS will showcase in excess of 13 projects. AMS is also the Gold Sponsor of the three-day event.
Retail City 2008 will bring together global retailers, retail investors, shopping centre developers, franchise networks, shopping centre management, architects and regional authorities to promote their projects, services and brands, discover the latest retail trends and source new investment opportunities.
The company announced that AMS' participation in such unique industry events has helped in furthering its market reputation as the quality leaders in the retail management and consultancy value chain. The company also announced sales of AED 700 million as part of its participation in Cityscape Abu Dhabi, held in the UAE capital between May 13 and 15.
In his comments, H.E. Nasser Mohammed Al Nowais, Chairman of AMS, said: "AMS is proud to announce its participation as Gold Sponsors of the Retail City exhibition, one of the prestigious events in the regional retail calendar. We are showcasing over 13 projects of various sized and costs scheduled to open between 2009 and 2012. We will check the customers' expression of interest as well as sales leads for all our retail projects at the exhibition which is an ideal platform to meet large number of prospective retail buyers."
He added: "AMS has carved a niche with world-class selective project management and leasing over the last nine years and is moving ahead with the confidence of achieving substantial success and establishing itself as quality leader across the entire value chain. We believe our participation in such industry shows help in furthering our market reputation as the leaders in the segment."
The company, which commenced operations with four employees in 1999, today boasts of an employee-strength of 75 as on date. The figure is likely to increase to 100 by the end of this year and nearly double be end-2009. AMS' turnover has witnessed an impressive growth of 25 to 30 per cent year-on-year, which proves its expertise in the entire real estate leasing and consultancy value chain.
AMS also announced that it has sold over 80 per cent of the villas and 30 per cent of the apartments of the AED 2.2 billion Bawabat Al Sharq project in Bani Yas, Abu Dhabi. The project, available for sale to UAE nationals on a freehold basis and to GCC nationals on a 100-year leasehold basis, encompasses modern residential, commercial, retail and entertainment facilities, including one, two, three and four bedroom apartments as well as three, four and five (detached and attached) villas.
The mixed-use development, spread across 108 hectares of land, comprises a vast array of world-class amenities, a FIFA-standard football stadium, a first-of-its-kind shopping centre and the best of retail and entertainment avenues.
The company has also commenced the leasing on the 46,000 square metre GLA (Gross Leasable Area) Downtown Al-Areen a mixed-use property development in the Kingdom of Bahrain. The leasing of the Downtown Al-Areen development would be done through Gulf Management & Services (GMS), AMS' affiliate in the Kingdom of Bahrain.
AMS affiliate AREMS, have started the leasing activities of The Boulevard in AL Abdali, the new down town of Amman-Jordan and announced the commitment of two major internationally renowned anchor tenants.
Also, the retailers of Beirut Souk in Lebanon will start very soon the fit-out work of their retail outlets in anticipation to start the trading at the beginning of 2009.
AMS and its regional affiliates in the GCC-Levant region AMS-Dubai, Gulf Management & Services in Bahrain, Beirut Real Estate Management & Services s.a.l. in Lebanon and Amman Real Estate & Management Services in Jordan manage 17 projects, covering a combined Gross Leasable and / or Sellable Area (GLA / GSA) of over 5 million square metres.
Among AMS' clients are leading property owners and developers in the region including Dubai Properties, Abu Dhabi Trade Centre, Manazel Real Estate, Bani Yas Investment and Development Company, Jumeirah Beach Residence, Sultan Al Dhaheri Group, Solidere, Abdali Investment & Development PSC and Gulf Holding Company.
Today, the company and its affiliates, through strategic alliances with corporate partners, have grown rapidly to become leading regional players and manage projects in the UAE, Bahrain, Jordan and Lebanon. AMS has also embarked on an aggressive regional expansion strategy. Originally focused on retail commercial projects such as the management of shopping malls, AMS has in recent years expanded its services to meet the market demand for similar services for residential and commercial properties. AMS and its affiliates are targeting revenues of AED 30 million in 2008 generated by their Consultancy, Sales & Leasing and Management Services.
-Ends-About Aswaq Management & Services:
Aswaq Management & Services represents French company Société des Centres Commerciaux (SCC) in the GCC area. It was established in Abu Dhabi in 1999 as a joint venture between H.H. Sheikh Mohammed Bin Suroor Al Nahyan, H.E. Nasser Mohammed Al Nowais and SCC.
SCC was established in 1962 and is involved in over 70 projects in Europe. Now, AMS and its affiliates have imported SCC's experience and adapted it to the local property market and represent a formidable force with considerable expertise in the consultancy, sales & leasing and management of Mixed-Use Properties.
For more information please contact:
Zylfi Husenaj
Aswaq Management & Services
Tel: + 971 2 645 7733
Fax: + 971 2 645 7737
Ashutosh Gupta
BPG Public Relations
Tel: +971 4 295 3456
Fax: +971 4 295 1027
© Press Release 2008
