Dubai-based property developers and real estate service providers Deyaar Development signed a property management contract with Awqaf and Minors Affairs Foundation (AMAF).
HE Khaled Rashid Al Thani, deputy secretary general of AMAF, and Ahmed Al Suwaidi, VP of property management at Deyaar, signed the agreement.
The agreement mandates Deyaar to manage AMAF’s portfolio of endowment properties in line with the current Dubai and UAE laws and regulations.
Under the agreement, Deyaar will submit a monthly statement to AMAF outlining the income and expenses for each property, in addition to occupancy rates, the number of vacant units and all other matters concerning the management of the real estate.
Speaking on the contract signing Al Thani said: “Collaborations such as this enable us to grow our capacity to care for our minors and meet all their needs. We will continue to build synergies with public and private entities that help us achieve our mission of supporting diverse segments of society and contributing to the National Agenda of the UAE Vision 2021.”
Ahmed Al Suwaidi said: “The work that Awqaf and Minors Affairs Foundation conducts vital work for the benefit of our society, and it is our pleasure to partner with them to offer Deyaar’s services in the field of property management. Together, we aim to bring additional value to the Foundation’s projects through our portfolio of specialised services. This partnership marks our ambition to work more closely with government institutions in line with the goals of UAE Vision 2021, to play our part in creating a sustainable urban environment.”