Emirates NBD has extended its asset servicing agreement with Apex Dubai for its real estate investment trust (Reit).
Under the new terms, Apex will provide property-level accounting and reporting services for the 11 properties in the real estate portfolio using property management software platform, Yardi.
It is one of the first real estate servicing mandates to be announced since Apex formalised its partnership with Yardi earlier this year making the platform its technology provider of choice for property management.
The expanded relationship with Apex was welcomed by Anthony Taylor, head of real estate at Emirates NBD Asset Management.
“In a soft real estate market, it is more important than ever that we establish partnerships and employ technologies such as the Yardi platform to help us manage data and processes more efficiently, more accurately and more transparently,” he said.
Ramesh Ketti, head of private equity and real estate operations for Mena at Apex said that the new mandate was “recognition that the Yardi platform combined with Apex’s real estate capabilities” allowed it offer “another layer of value to clients”.
© 2020 funds global mena