Platform will support the streamlined management of a national chain of six community retail centres located across Dubai, Al Ain and Fujairah.

DUBAI, United Arab Emirates - Wednesday, October 22nd 2014 [ME NewsWire]

(BUSINESS WIRE)-- Yardi announced today that Souq Extra LLC will manage its SouqExtra! centre portfolio through Yardi Voyager® 7S.

Established in 2007, Souq Extra LLC has developed five SouqExtra! centres across three distinct United Arab Emirates (UAE) markets, retaining 100% ownership of each centre and managing all retail, property and facility services directly. This strategy continues with the construction of SouqExtra! Dubai Silicon Oasis, opening in mid-2015.

“We retain a diverse Shareholder registry,” comments Ben Ganley, CEO at Souq Extra LLC. “This includes related companies of the Federal Government of the United Arab Emirates, the Government of Dubai, and distinguished private and institutional investors that uniquely integrate Sovereign governance and vision with the entrepreneurship of the private markets.

“Voyager will undoubtedly cement our strategic foundation, supporting us in delivering the best places for our clients, investors, partners and communities.”

“We are very pleased that Souq Extra LLC selected Voyager to support its retail strategy in the Middle East,” comments Neal Gemassmer, vice president international at Yardi Systems. “This serves to demonstrate the scalability of our solutions and how we are focussed on helping to add value within specific vertical segments within the broader spectrum of property management in the Middle East.”

About Souq Extra LLC

During 2014, Souq Extra LLC established an enhanced project delivery strategy to achieve rapid, balanced and diversified growth, transitioning into an integrated property group with the capacity to source, plan, design, finance and execute large scale mixed use projects, and to manage the complexities of multiple assets and stakeholders. For more information visit: www.souqextra.com

About Yardi

Now in its fourth decade, Yardi® is committed to the design, development and support of software for real estate investment management and property management. With the Yardi Commercial Suite™, Yardi Residential Suite™, Yardi Investment Suite™ and Yardi Orion™ Business Intelligence, the Yardi Voyager® platform is a complete real estate management solution. It includes operations, accounting and services with portfolio-wide business intelligence and platform-wide mobility. Yardi serves clients worldwide from offices in Australia, Asia, Middle East, Europe and North America. For more information, visit www.yardi.ae.

Contacts

Yardi

Martin Gedny, Marketing Manager (Europe & Middle East)

+44 (0) 1908 308400

martin.gedny@yardi.com

or

Yardi Systems Middle East (Limited)

Unit 333, Building 16

Dubai Internet City

P.O. Box 500562, Dubai 17018

+971-04-4322679

middle-east@yardi.com

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