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DPG launches Masat to oversee portfolio.

Dubai Properties Group (DPG) has announced the establishment of Masat, a new dedicated portfolio management company responsible for overseeing and managing DPG's built to lease (BTL) portfolio across its destinations and districts.

Masat will join Dubai Properties (DP) and Ejadah as one of three independent companies under the newly formed DPG holding company. Masat's company structure will include property management, mall and retail management, district management, business development, marketing, and customer service. The company will be headed by chief executive officer Arif Mubarak, former chief operating officer of DPG, who will oversee the company's strategy and business development, including management of investor relationships.

Group CEO of DPG, Khalid Al Malik, said: "Following the strong performance of our BTL portfolio and increased investor demand we are seeing in the region, we made a strategic decision to launch a new dedicated portfolio and management company. Masat will play a key role in the success of our new structure, further cementing our flagship destinations and districts in the market, and managing our existing portfolio to maintain our leading position in the Dubai real estate market."

Arif Mubarak added: "Masat is a unique company in the market, set to handle such a diverse range of services from commercial and residential leasing to mall management to district management, in addition to its key role in implementing regulations on behalf of its master developer, DPG. We aim to maintain the high occupancy rate in all our leasing developments through careful management of DPG's leasing portfolio and an increased interest in investor relations of all DPG destinations and districts."

In addition, Masat's new role will also encompass management of land leasing on behalf of DPG.

-- business@khaleejtimes.com

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Publication:Khaleej Times (Dubai, United Arab Emirates)
Date:Apr 23, 2014
Words:296
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