MUSCAT: Charitable Endowment Foundation, a trust set up by the Ministry of Awqaf and Religious Affairs, has tapped leading Omani real estate firm Tibiaan Properties to manage a sizable portfolio of endowment properties distributed across Muscat Governorate.
On this occasion, Sheikh Rashid bin Saif Al Saadi, Chairman of the Board of Directors of the Charitable Endowment Foundation, said, “It is a pleasure to sign this contract marking the start of good relations with Tibiaan Properties, a company known for its efficiency, good management and reliance on a specialised Omani cadre that qualified it to outperform the rest of the companies that submitted the tender. The work will include the management of approximately 300 commercial and residential real estate units distributed in different areas within the Governorate of Muscat.”
Fahad bin Sultan Al-Ismaili, CEO of Tibiaan Properties, said, “The agreement with the Charitable Endowment Foundation is a positive addition to the company’s business portfolio that includes marketing services, leasing, contract renewal, complaints management and debt collection in addition to other services. The fact that we offer a dedicated team to handle the complete range of services is what makes the real estate owners place their trust in us.”
The signing of an agreement of this magnitude at this particular period is an indication that the Oman economy is on the path to recovery and that companies are making all the efforts to overcome this ordeal at the earliest.
The Charitable Endowment Foundation was established by the Ministry of Endowments and Religious Affairs to manage their properties and charitable endowment real estate based on a modern and advanced management model to achieve profitability while following the legal determinants at the same time. This was taken into consideration while selecting the board of directors who are prominent people in various investment fields. The establishment has been registered with the Trade Registry Secretariat in the Governorate of Muscat for it to have the greatest possible freedom to perform its duties.
Established in 2003, Tibiaan Properties is a company that specialises in real estate affairs. The experience it has accumulated over the years has propelled it to a leadership position in its field. Within a short period, Tibiaan Properties has opened up the realty market in Oman to international investors. The company is committed to simplifying the world of property investment to clients and strongly believes in being transparent in its dealings.