Leading regional property services firm Asteco today (14 March 2010) announced a series of key strategic management appointments as it consolidates its presence in Qatar as part of its Middle East expansion.

The move comes as Asteco takes over property management responsibilities for a significant new stock of 1,200 apartments soon to be handed over by sub-developers working on the Porto Arabia precinct of The Pearl-Qatar, the country’s flagship development.

The Pearl, in which Qatar offered its first freehold properties, is a US$10 billion development on a man-made island off the coast of Doha with more than 40 kilometres of new coastline that will eventually offer a total of 16,000 villas and 25,000 apartments.

Asteco Qatar LLC, is a joint venture partnership with United Development Company (UDC), master developers of The Pearl-Qatar; Commercial Bank of Qatar; and Qatar Insurance Company. UDC is Qatar’s largest private sector shareholding company.

Asteco has been appointed by UDC as the lead property management, or strata, consultant within The Pearl-Qatar master development and delegated to carry out the responsibilities of the co-owner’s association management. The appointment covers multi-ownership plots within the Porto Arabia, Viva Bariyah, Qanat Quartier and Giadarno Villas – a mix of UDC and sub-developer properties.

“Our instructions are ongoing while development work takes place within the master development,” explained Jed Wolfe Regional Associate Director for Asteco in Saudi Arabia, Qatar and Bahrain. “Future instructions could arise as owners of single ownership plots divest through unit sales and co-owner associations are established.

“What is certain, however, is that with all the new, higher quality property coming onto the market, those living and working in Qatar will have more choice than ever in 2010.”

In a recent report on Qatar, Asteco said property leasing is expected to see continued activity in 2010 as projects reach completion and the gas, oil, infrastructure and logistics industries continue to attract investment.

In support of its position as number one agent for sales, leasing and property management on The Pearl-Qatar and its increasing presence in wider Qatar market, Asteco has recruited a number of industry experts for key strategic posts including Don Caslick as General Manager; David Zlatarich as Head of Property Management; and Faris Wail as Head of Sales and Leasing.

Veteran Caslick has over 24 years of experience in strata management in Australia and the Middle East and has worked with many of the biggest names in the industry. “The opportunity to be involved with the ongoing management and operation of the home owners associations on the pearl-Qatar presented me with a challenge that I could not resist,” said Caslick.

David Zlatarich, who is the new manager of leasing and property management, is another veteran with nearly 20 years’ experience. His vast knowledge of commercial, residential and hospitality property management will ensure that operations will be managed using highest international standards and codes of practice.

“The Asteco name is synonymous with high quality service and professionalism and Don, David and Faris will bring these core capabilities to our growing customer base in Qatar. Certainly The Pearl-Qatar will be in safe hands,” Wolfe said.

Asteco, a major regional and international real estate services firm and the largest property services company in the United Arab Emirates, was founded in 1985. The company is currently expanding in the region with a focus on the Saudi Arabia, Qatar and Bahrain markets. Asteco offers independent market analysis, design development consultancy and valuation services, sales and leasing services, as well as asset and property management services.

Al Bawaba (www.albawaba.com)

“The focus of companies in New Zealand has shifted from Western countries to the region. With Qatar becoming a major hub of industrial activities and development, a number of companies are keen on knowing about the market here,” Wayne Mikkelsen, Counsul General and Trade Commissioner, NZTE-Dubai told the English Language daily /The Peninsula/ published here on Saturday. NZTE focuses to provide access to experienced people, market knowledge and qualified opportunities to help New Zealand businesses grow and succeed in the global economy.

Through its “Beachheads” programme New Zealand companies are provided with faster access to better international networks. Last year, negotiations on the New Zealand – Gulf Cooperation Council (GCC) Free Trade Agreement (FTA) were successfully concluded. The officials are looking into the legal verification process before details of the FTA are made public and put before Ministers for signature, hopefully by the end of the year. Added to this, exports to the GCC countries including Qatar had totalled more than $1bn last year, with an increase of 218 percent since 2000. “These factors make GCC our key attraction and the tremendous growth in Qatar opens up much potential for the New Zealand companies here,” he said. As the major step into this, NZTE held an advisory board meeting of its Beachheads programme in Doha recently.

“New Zealand is a success story of public and government partnership, with proven track records. Beachheads is a two-year programme designed for high-growth New Zealand companies looking to grow internationally. It connects interested companies to a network of advisors who can provide detailed insights into doing business in a specific international market as in Qatar,”said Mahmoud Haidar, Middle East Beachheads Advisory Board Chair.

Elaborating he said,”We provide valuable advice and contacts that can connect companies into the right partners and potential customers,” The meeting in Qatar had brought in experts from established organisations in various sectors here as advisory board members. They then conducted seminars focusing on business atmosphere here and what is happening in various sectors. A number of New Zealand company representatives also participated in the meeting and exchanged ideas on establishing firms here. “Qatar has been growing tremendously and the trade relations between both countries are getting better and growth has attracted many companies here for the first time. Companies from telecom to education and leverage sectors are keen on establishing here,” said Haidar. “New Zealand is now following up with the FTA and it reflects the seriousness that the country gives for the trade elations with the region. Qatar is one of the key markets for opportunity and is significant,” said Mikkelsen. (QNA)

Source: QNA

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