Islamic financial institution Ajman Bank launched its real estate subsidiary Skyrise Properties on Thursday, aiming to expand in the real estate asset management market.
The newly launched real estate firm will be based in UAE and operate as an autonomous entity with its own distinct identity, systems, and team, said Ajman Bank. Mohammed Al Shamsi, executive chief of Ajman Bank will lead Skyrise Properties.
The bank said this is an important transformation for its journey of diversification and innovation as well as complements the bank’s core business offerings, with a range of services including property management, sales, leasing, brokerage, third-party evaluations, and facility management supervision.
“The launch of Skyrise Properties signifies a momentous milestone for Ajman Bank, this new venture, is a crucial step for us in the realm of property management and real estate, where we aim to set new benchmarks and redefine standards,” said Al Khalfawi.
“We believe Skyrise Properties’ independent structure will foster growth, innovation and responsiveness while empowering the team to cater to its diverse client needs, we are confident Mohammed Al Shamsi’s proven track record and current position as a board member at Aqaar will prove to be invaluable for Skyrise Properties progress,” added Al Khalfawi.
Established in 2007, Ajman Bank is an Islamic bank based in the emirate of Ajman. The bank specializes in corporate and commercial banking, retail banking, business banking, government financials, structured finance, and credit cards in the UAE and across the region.
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