2016 was a challenging year for the region due to changing economic fundamentals that caused various market dynamics to change domestically, regionally and internationally leading to the need for rebalancing and recalculating by private sector businesses. Manazel Real Estate sees itself with a competitive advantage due to the emerging trend of Public & Private Partnerships (PPP) and the continuous demand for middle income housing putting the company in an advantageous position in the years to come.
The company continued to follow the diversification strategy launched late 2014 creating additional recurring revenue streams while insulating the company’s returns from the cyclical nature of the real estate sector. During 2016 the company continued on taking measured steps forward through its Diversification, Expansion and Development Strategies aiming to capture income by further developing and enhancing existing facilities within its projects.
Our subsidiaries also played a pivotal role in achieving the overall strategy as Manazel Specialists and Census International, our Property Management and Facility Management arms, respectively continue to service Manazel Real Estate’s portfolio of Projects. Manazel Mall, the company’s retail operating arm, has also continued in aggressively ensuring that our retail portfolio which includes Capital Mall and Al Reef 1 Retail are fully operational; new additions to this portfolio include the Retail area of Al Reef 2 and Manazel Amman.
Meanwhile Manazel Healthcare continues to make progress in moving the Manazel Medical City project from concept to reality. Manazel Real Estate also recently announced project with the launch of its new hospitality water front project in Ghantoot a one of a kind which targets a new consumer segment.
With our current business model set Manazel Real Estate guarantees the success of its end goal while also adding to total value created to its investors through utilizing its resources (land bank, subsidiaries and Human Capital) to diversify and further expand into existing closely aligned growth sectors such as Retail Management, Property Management, Facilities Management and Healthcare.
The company is well funded, opportunities are plentiful and the fundamentals are strong; all signs that the company is set for future expansion being able to seize opportunities to expand geographically and operations wise. With a successful track record of servicing the Middle Income segment Manazel is well positioned to capitalize on the expected population growth, continuous demand and shortage of supply both domestically and regionally making it well positioned for future growth.
Mohamed M. Al Qubaisi