Deyaar To Manage National Bonds' Realty Projects

National Bonds, the national savings scheme of the UAE, has signed an agreement with Deyaar Development, the property development arm of Dubai Islamic Bank, to transfer the development and management rights of National Bonds' real estate projects Skycourts and Flamingo Creek to Deyaar. Under the terms of the agreement, which represents an alignment of resources and core competencies between two companies, National Bonds will continue to own its real estate projects, including Skycourts and Flamingo Creek. In addition to holding the development and management rights to these projects, Deyaar will manage the project construction and sales operations. "While the current agreement covers only two specific projects for the time being, it will be extended to include other future real estate developments owned by National Bonds,"... [read full story]