Omniyat Properties, a Dubai-based developer with Dh13.5bn (US$49bn) worth of projects launched, has set up a new property management arm to help the company diversify its income and distinguish itself from its competitors when the global financial turmoil is hitting the UAE economy.

'It’s a new revenue stream for the group and it will extend the experience that we have in property development into the life of the building,' said Mehdi Amjad, executive chairman of Omniyat Holdings.

The National