The MOU will offer RAKBANK Business Banking customers property management and portal services on preferential terms The National Bank of Ras Al Khaimah (RAKBANK) has entered into a Memorandum of Understanding (MoU) with City Properties Real Estate (CPRE), one of UAE's leading leasing and property management service providers for residential, commercial and industrial real estate.

The MoU will enable RAKBANK’s Business Banking unit to refer specialized services to its real estate customers, on preferential terms through this partnership. Customers will have access to discounts on property management fees, legal services, online monitoring, and utilities payment modules.

The MoU was signed by Geoff Stecyk, COO of RAKBANK; Dhiraj Kunwar, Managing Director of Business Banking; and Kunal Roy, Senior Manager of Business Banking at RAKBANK; Dr. Abdulla Al Shaibani, CEO of CPRE, in the presence of Dr. Najib Fadhlani and Senior CPRE Management.

Commenting on the partnership Geoff Stecyk, Chief Operating Officer of RAKBANK, said: “This is a valuable addition to the diverse range of products and services that are offered by RAKBANK Business Banking. Both RAKBANK and CPRE are committed to addressing property owners’ challenges by providing innovative solutions that will reduce costs and improve operating efficiencies. As a Bank, we strive to continually introduce new platforms that will assist our customers not just financially, but in direct support of their business objectives. This latest partnership is fully aligned with that philosophy.”

Dr. Abdulla Al Shaibani, CEO of CPRE, said: “Since 2003, City Properties Real Estate has been a key influencer on the Emirati real estate market, delivering clients to safety when things were tough, and maximizing clients’ benefit when economy was booming. The result was an exquisite reputation backed up by more than 16 years of experience in navigating the domain of real estate management and property evaluation all over the GCC region and several parts of the world.”

City Properties is mostly distinguished by its evolutionary approach that incorporates IT & software solutions to create pioneering websites and applications that enable our partners of owners, tenants and investors to keep a better track of properties.

As part of this partnership, City Properties is the first company in the UAE that provides e-services with unique privileges in property management to RAKBANK and its clients.