Ajman Bank Leads Skyrise Properties’ Expansion with Inauguration of New Premises

14 October 2024 : Skyrise Properties, a fully-owned subsidiary of Ajman Bank, has announced the official inauguration of its new headquarters next to Ajman Bank’s main office, marking a pivotal moment in both companies’ growth trajectories. The inauguration event was attended by the board members and senior management of Ajman Bank and Skyrise Properties underscoring the close strategic alignment between the two entities.

The new premises will serve as the central hub for Skyrise Properties’ expanding activities, which pan property and asset management, sales, leasing, brokerage, third-party evaluations, and facility management supervision.

The launch of Skyrise Properties is a significant milestone in Ajman Bank’s diversification strategy, designed to expand its core offerings by tapping into the real estate sector. Skyrise Properties, launched by Ajman Bank in early 2024, operates as an autonomous entity with its own identity and systems, empowering it to deliver focused, innovative solutions in the property management space. The company’s independence is key to fostering growth and responsiveness while leveraging the synergies between banking and real estate.

Mustafa Al Khalfawi, CEO of Ajman Bank and Chairman of Skyrise Properties, said: “The opening of Skyrise Properties’ headquarters is a testament to our commitment to innovation and growth. Through this venture, we aim to expand our real estate footprint and redefine standards in the property management sector. With the immense potential in the real estate market we are determined to set new benchmarks. Skyrise Properties will play a crucial role in enhancing Ajman Bank’s diversification strategy and creating lasting value for our clients.”

Skyrise Properties’ initial focus will be managing Ajman Bank’s extensive real estate portfolio, valued at AED 5.5 billion, while expanding its services to external clients.

Mohammed Al Shamsi, CEO of Skyrise Properties, commented: “We are excited to begin operations from our new premises, which represents our drive for excellence and innovation. Skyrise Properties is uniquely positioned to leverage Ajman Bank’s resources while remaining dynamic and independent, allowing us to deliver cutting-edge solutions and exceptional service to our clients.”

About Ajman Bank

Ajman Bank is an Islamic bank with an ambitious vision based on values of integrity, trust and transparency seeks to provide a wide range of Sharia-compliant and high-quality banking services to customers from individuals, companies and government institutions across the UAE. It is also keen to be updated with the latest technology that will ensure customers a distinctive experimental banking with the revival of human touch that is lost in the modern era of banking application.

Ajman Bank is headquartered in Ajman and enjoys the strong support of the Government of Ajman and is a key pillar in the emirate’s economic development strategy. The bank continues its tireless efforts to establish a prominent position in the banking sector as a sustainable Islamic banking institution, with an emphasis on the need to achieve an optimal balance in the community and caring staff, in order to provide real value for shareholders and customers alike.