Ajman Bank has launched a fully-owned subsidiary focused on real estate asset management.
Skyrise Properties, as the new real estate asset management firm is known, will be headquartered in the UAE and is set to revolutionise the property management sector in the country.
The launch of the new subsidiary marks a pivotal chapter in Ajman Bank’s transformation journey of diversification and innovation. It is expected to 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.
“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 Mustafa Al Khalfawi, CEO of Ajman Bank.
With an initial focus on managing Ajman Bank’s varied real estate portfolio, as well as external customers, Skyrise Properties aims to be a big player in the market. It will operate as an autonomous entity with its own distinct identity, systems, and team.
“We believe Skyrise Properties’ independent structure will foster growth, innovation and responsiveness while empowering the team to cater to its diverse client needs,” said Al Khalfawi.
Mohammed Al Shamsi, who has been with Ajman Bank for over nine years and is a seasoned professional with over 25 years of extensive experience in the retail and real estate sectors has been appointed as the CEO of Skyrise Properties.
