Apex Dubai has been appointed by Emirates NBD (ENBD) real estate investment trust (REIT) to provide property-level accounting and reporting services to 11 properties in its portfolio.
Selected for its experience in REIT fund administration, Apex Dubai will implement its Yardi property management technology and accounting software to allow ENBD REIT clients to complete administrative tasks in a more efficient manner through one centralised system.
The closed-ended Dubai International Financial Centre investment company is part of ENBD Asset Management and invests in a diversified portfolio of income-generating real estate.
Ramesh Ketti, head of private equity and real estate operations, Middle East and North Africa, Apex Group, said: “We are pleased to announce the expansion of our relationship with ENBD REIT to include the provision of accounting and reporting services at the property level.”
“This is recognition that the Yardi platform, combined with Apex’s existing real estate capabilities and knowledge, allows us to provide best in class service and adds yet another layer of value to our clients.”
Anthony Taylor, head of real estate at Emirates NBD Asset Management, added: “We are delighted to partner with Apex Dubai to introduce technology to support our goals.”
“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.”
