Ajman Bank Expands Horizons with Launch of Skyrise Properties

Ajman Bank Expands Horizons with Launch of Skyrise Properties

By Staff Writer, 08 January 2024

Ajman Bank is set to diversify its portfolio with the introduction of a specialized real estate management subsidiary, signaling its commitment to innovation and expansion.

The bank confirmed its new venture, named Skyrise Properties, in a recent statement to the Dubai Financial Market (DFM).

Skyrise Properties aims to provide a comprehensive range of services, including property management, sales, leasing, brokerage, third-party evaluations, and facility management oversight.

The bank's decision to diversify into real estate management reflects its strategic vision for growth and enhanced customer service.

Heading this ambitious initiative is Mohammed Al Shamsi, a seasoned professional with a nine-year tenure at Ajman Bank.

Al Shamsi's most recent role was as the head of digital banking, and he also serves as a board member for Ajman government's real estate entity, Aqaar.

His extensive experience and leadership qualities make him a fitting choice to steer Skyrise Properties towards success.

While Skyrise Properties will prioritize managing Ajman Bank's existing real estate assets, it will also cater to external clients, operating as an independent and autonomous entity.

This independence is expected to bring agility and specialized focus to the subsidiary's operations.

Mustafa Al Khalfawi, the CEO of Ajman Bank, expressed optimism about Skyrise Properties' potential.

He emphasized that the subsidiary's independent structure would cultivate an environment conducive to growth, innovation, and swift responsiveness to market dynamics.

The bank's strategic move underscores its dedication to diversification and meeting evolving customer needs in the competitive real estate landscape.

Imogen Lillywhite / Zawya

Related Report

Diriyah and the Giga Projects Defining the New Saudi Arabia

Diriyah and the Giga Projects: Defining the New Saudi Arabia

A look at Diriyah, Saudi Arabia’s cultural capital and one of the Kingdom’s first tourism offerings to be opened to the public, alongside the other Giga-projects valued at over US $1 trillion that are shaping the Kingdom’s future to 2030 and beyond.

Subscribe To Our Newsletter

Stay up to date with the latest news, special reports, videos, infobytes, and features on the region's most notable entrepreneurial ecosystems