Deyaar announced on Wednesday that it has signed an agreement to provide property management and leasing services to Tamweel owned properties. 

Tamweel, the UAE’s Islamic home finance provider, owns properties in Abu Dhabi and Dubai, including Al Reef Villas, Arabian Ranches and Palm Jumeirah.

Under the agreement, Deyaar’s Property Leasing Unit will manage and lease these properties on behalf of Tamweel.

Saeed Al Qatami, Chief Executive Officer, Deyaar, said: “We look forward to working with Tamweel to maximise returns on their properties.”

Varun Sood, Acting Chief Executive Officer, Tamweel, said: “As the UAE real estate market witnesses a sustained recovery in both sales and rentals, we considered it to be an optimal time to review the management of the properties owned by Tamweel. Deyaar’s track record of delivering high occupancy rates made the company a natural choice to manage and lease our properties.”