UAE investors keen on luxury real estate in Malaysia
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UAE-based Tasweek Real Estate Development and Marketing is forging into the Malaysian real estate market with its joint venture with Casabrina Vacation Villas. The aim is to development, own, operate and market luxury properties in Malaysia to potential investors from the Middle East.
The deal is part of Tasweek’s recently completed US$250 million property portfolio and reflects the company’s investment focus on Malaysia’s thriving tourism industry, the company said according to Arabian Business.
According to the paper, under the terms of the venture, Tasweek will market nine boutique villa hotels under a Shariah-compliant scheme.
Each villa offers investors a unique design complete with approved building plans and occupies between one and three acres of freehold land less than an hour’s drive from the Petronas Twin Towers in Kuala Lumpur, Tasweek said. The project will comprise 11 exclusive six- and eight-bedroom suites at the foothills of Bukit Frasier in Pahang in west Malaysia.
