Tamweel highlights growth strategy for UK-based investors

Addressing leading London-based investment firms and fund managers, the company's Chief Executive Officer, Adel Al Shirawi, highlighted Tamweel's primary growth strategies, which include its focus on core business activities and openness to partnerships with all real estate developers and developments.

Al Shirawi also underscored Tamweel's pragmatic diversification of revenues through international expansion. In a very short time span, these strategies have resulted in Tamweel becoming the largest provider of real estate finance in the UAE by both asset size and profitability.

Al Shirawi said: "Today, international investors and fund managers find Tamweel to be a very attractive company in which to invest, especially considering the value we bring to our shareholders and strong returns on both assets and equity. As well, Tamweel shares currently have the highest dividend yield and price earning growth among all DFM-listed companies."

Tamweel's net profit for the first quarter of 2007 surged to AED 50.47 million, a four-fold increase over AED 10.19 million for the first quarter of 2006. Islamic financing and investing assets grew 94 per cent to AED 3 billion in first quarter 2007 from AED 1.55 billion during the same period in 2006.

Al Shirawi added: "Reaching out to the overseas investment community is central to the long-term growth strategy of Tamweel. We are grateful to DFM for organising this conference, which provided an excellent platform to reach out to this vital audience. In response to such demand, we recently amended Tamweel's articles of association to allow foreign ownership of up to 40 per cent of the firm's share capital. We look forward to continuing to work with DFM to attract increased foreign investment."

The DFM London road show was organised to attract increased foreign institutional investment in the market, showcasing the achievements of a total of 14 DFM-listed companies. The event took place between May 22-24, 2007.