Dubai – Mubasher: Ajman Bank has launched Skyrise Properties, a new fully owned subsidiary focused on real estate asset management, according to a press release.
The UAE-headquartered unit is set to foster the property management sector in line with the listed lender’s transformation journey.
It will also complement the bank’s core business offerings, with a range of services including property management, sales, leasing, brokerage, third-party evaluations, and facility management supervision.
Mustafa Al Khalfawi, CEO of Ajman Bank, commented: “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.”
Mohammed Al Shamsi, who has been with Ajman Bank for over nine years, has been named as the CEO of Skyrise Properties.
Al Khalfawi stressed: “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. Together, we look forward to achieving new heights of success and growth.”
In the first nine months (9M) of 2023, the UAE lender registered net losses valued at AED 87.31 million, against net profits worth AED 112.61 million in 9M-22.
Last November, Ajman Bank and Mastercard joined forces to launch cross-border payment services for person-to-person (P2P) fund transfers through the lender’s digital app.
