Abu Dhabi Commercial Bank awards Asteco Property Management contract to manage property portfolio

Notes and media contacts

About Abu Dhabi Commercial Bank
Abu Dhabi Commercial Bank (ADCB) was formed in 1985, as a public shareholding company with limited liability, upon merger of Emirates Commercial Bank and Federal Commercial bank with Khaleej Commercial Bank.

ADCB's paid up share capital of AED 1,250 million (USD 340 million) is the largest in the UAE. The Government of Abu Dhabi, through Abu Dhabi Investment Authority (ADIA), holds 65% of the capital while the rest is held by various UAE Institutions and Nationals.

ADCB is among the top three banks in the UAE with assets of AED 28.7 billion and operating income of AED 939 million.

About ASTECO Property Management
The UAE's largest property management company, Asteco, was formed in Dubai in 1985, with Elaine Jones as one of the Managing Partners. Over the years, Asteco has become synonymous with quality real estate development, through their involvement in many of the projects that have defined the landscape and physical infrastructure of the UAE.

Today Asteco is renowned throughout the region for its outstanding professionalism, service and an essential combination of local and international expertise. Asteco is therefore the undisputed expert used by many of the region's top property owners, developers and businesses to fulfill their property requirements through the use of the latest on-line technologies to ensure that owners and tenants alike can access the information they want whenever they want it.

The Sales division of Asteco plays a key role in the implementation and execution of business strategies and developments, joint marketing with strategic partners and clients as well as identifying potential investors in the Middle East, Far East and Europe. Other than local properties, Asteco also carries an impressive portfolio of International properties in countries that include UK, Ireland, Malta, France, Australia and Spain.

They also provide professional financial advice, especially on the structure of prices on upcoming real estate projects and counselling of individual and institutional investors, whilst continuing to focus on client needs and long-term relationship building.

Asteco's outstanding growth and diversification over the last two decades has developed through a reputation for excellent customer service and local industry knowledge and experience. To summarise, Asteco has taken a leading role in the Dubai & Abu Dhabi property scenes, from complete agency services for both leasing and sales, development advice, building management, valuations, marketing and feasibility studies for residential, commercial and retail developments.

Issued on behalf of ASTECO Property Management. For further information, please call Shereen Dury at octOpus on 04 2868275 or 050 7690087