Tamweel organizes 1st ever Analysts meet in Dubai

The gala event, attended by CEOs of investment banking , analysts and Fund managers from the UAE capital market, showcased Tamweel's achievements, future growth strategies and expansion plans.

After a successful record-breaking IPO, Tamweel was the first company in the UAE to be converted directly from an LLC status to a public joint stock company to be listed on the Dubai Financial Market, Tamweel is going full steam ahead with its future expansion strategy aimed at bolstering its presence in the country and the region by introducing new products and unique promotions aimed at satisfying the customers' needs.

His Excellency Sheikh Khalid Bin Zaid Bin Saqer Al-Nahayan, The Chairman of Tamweel PJSC, have chaired the event with a warm welcome speech to announce first of its kinds analyst meeting to be held by a publicly held company. "This meeting will set a good precedence for companies to reveal its numbers to analysts on periodic basis. We have an obligation to bring the at most transparency to our marketplace and bring back the confidence in the leading high quality earning companies back to the capital markets." Said Sheikh Khalid, he further added "Tamweel's confidence in its growth and quality of earnings makes us positive on the company's prospects going forward".

Speaking on the occasion, Adel Al Sharwai, The Chief Executive of Tamweel gave the audience a detailed presentation on the industry outlook, company functionality, and revealed expected 2006 earnings and ratios to the analysts. Adel Al Shirawi said "The real estate industry is lead by the mortgage industry which provides the main supply for liquidity, and our outlook on supply and demand for the next few years proves that we are well positioned for growth as GDP growth will cause Demand to outgrow Supply".

With a well-spread-out network, including branches in Dubai, Sharjah and Abu Dhabi, Tamweel has announced that the more aggressive expansion plans will be executed soon accommodated by continuous innovation and solid expertise, backed by a strong and focused management.

AlShirawi added: "Diversification of customer base and high market penetration with 75 developers and over 235 partners coupled with our extensive list of innovative products position our company as a high growth and less risk entity comparing to its peers"

During the closely held event, Tamweel management revealed to analyst and invitees Earnings and company ratios such as Expected Net profit, Earnings per share, Returns on Equity and Assets in addition to Beta risk and credit loss risks of the company as compared to market benchmarks.

Recently, Tamweel announced its decision to issue the second ever internationally rated asset backed securities in the region worth US$300 million in the 3 rd quarter of 2006. This transaction would emphasize Tamweel as the pioneer of securitization in the region with the objective of promoting the secondary mortgage system in the country and matching the duration of its assets with long termed liabilities.

The session ended with a Deep and interactive Question and Answer session where industry analysts made more detailed inquiries on the Company's future plans to securitize a portion of its assets and geographical growth plans.

Tamweel is the only company in the UAE that has been offering Islamic home finance products since its inception and plays a vital role in the development of the UAE real estate market and its products and services have wide acceptance among the home buyers in the country. Tamweel, which has offered finance for properties of level one developers, has also assisted many secondary and third tier developers to launch their properties in the market.