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Salwan announces successful completion of first year

- March 31, 2009, 12:42 am

Salwan LLC, a property management company and a subsidiary of Dubai Properties Group (DPG), today announced it has successfully delivered optimal leasing and property management solutions to over 18,000 real estate units around Dubai during its first year in operation.

In addition to growing its portfolio from 7,000 to 18,000 units since its inception in 2008, Salwan is pursuing an ambitious strategy to bring another 8,000 units under its management portfolio by the year-end, thereby expanding its ambit to include a total of 26,000 real estate units in Dubai.

Saeed Bushalat, CEO of Salwan, said: ‘In just one year, Salwan has risen to become one of the leading property management companies in Dubai. The exceptional level of professional competency has been the stepping stone to developing our operational capabilities and providing us with the necessary platform to shape our success in the years to come. Consequently, we will continue to direct our efforts towards contributing to the sustainable and social development of the country while striving to set unparalleled benchmarks in the property management sector.’

Salwan’s operations span around strata and property management for Dubai Properties Group as well as other companies, property sales, property auctions through Mazad Auction House, property management, lease of properties, hotel apartments, and real estate consultancy solutions.

As one of its performance highlights, Salwan sold over Dhs250m worth of properties during a single Mazad auction. While exceeding all benchmarks, Salwan is effectively poised to register a revenue of over Dhs50m in 2009.

Salwan’s current sphere of operations include residential and commercial units such as Mirdiff Villas, Jumeirah Beach Residence, Cordoba Villas, Al-Khail Gate Community, Central Towers, Al Razi Residence, and Office Park at Dubai Internet City. The company will soon add to its portfolio top-rated properties at Executive Towers in Business Bay, The 558 Community, Al Waha villas, The Villa, and Mirdiff Villas.

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