Ownership:
- United Development Company (30%)
- Commercial Bank of Qatar (30%)
- Qatar Insurance Company (20%)
- Asteco Property Management (20%)
Incorporation date: 2007
Sector: Real Estate
Asteco Qatar is a joint venture between United Development Company, Commercial Bank of Qatar, Qatar Insurance Company and Asteco Property Management. Asteco Qatar offers property management, sales, leasing, research and consultancy services, alongside strata consultancy and management through the Company’s dedicated strata division.
Through efficient property management systems and ongoing consultation with developers and owners, the Company facilitates consistent property operations and focuses on client satisfaction.
Key advantages
- Asteco Qatar is the only provider of Co-Owner Association Management or Strata Management in Qatar;
- The Company is connected to operations in Dubai, Abu Dhabi, Al Ain, Saudi Arabia, Jordan and Bahrain through Asteco Property Management LLC., one of the four shareholders in Asteco Qatar.
Asteco Qatar’s clients come from different industry sectors. They include developers, institutions, corporations, private investors, high net-worth individuals, government bodies and sovereign wealth funds. The Company also represents landlords and tenants of apartment units and villas.
In 2010, Asteco Qatar increased its leasing, property management and consultancy capabilities by providing Co-Owner Association Management consultancy to The Pearl-Qatar for Operations and Management (TPQMO). The portfolio under management in TPQMO now extends to 17 Co-Owners’ Associations.
Future Plans
- Asteco Qatar’s market share will expand significantly with the continued development of The Pearl-Qatar;
- The choice of Qatar to host the 2022 FIFA World Cup will create unlimited growth opportunities in the real estate market, and Asteco is expected to benefit from this growth.
For more information about Asteco, please visit www.asteco.com