Abu Dhabi, 17 November 2019: FAB Properties, a real estate service provider specialising in end-to-end property solutions, has become the first real estate company in Abu Dhabi to subscribe to Al Etihad Credit Bureau (AECB) services to utilise credit reports and credit scores in tenant application and renewal assessment. Analysing data from multiple sources, AECB provides a range of credit and behavioral scores and indicators that will assist real estate companies in assessing the risk associated with tenants fulfilling their payment obligations.
Al Etihad Credit Bureau collects information from multiple entities including banks, finance companies and telecommunication companies to produce reports, scores and indicators which are made available to individuals and companies in the UAE. While all UAE banks and financial companies are fully integrated and dependent on AECB’s products and service, the Bureau’s value is exponentially increasing to users in the real estate sector.
Jasim Al Ali, CEO of FAB Properties said: “FAB Properties’ adoption of Al Etihad Credit Bureau’s services showcases our commitment to incorporate international best practices in our operations and will bring significant advantages to both FAB Properties and our tenants when managing risks in application and renewal processes. We are delighted to be the first Abu Dhabi real estate company to utilise these services, as credit scoring is common in mature markets and plays a key role in a company’s decision making process.”
Marwan Ahmed Lutfi, CEO of AECB said: "We are glad to be able to showcase the value of credit reports, scores and indicators in industries beyond financial services. Our data insights on individual and company payment behavior is applicable to any industry that provides products or services against a promise to pay in the future. We are, hence, delighted to have FAB Properties instill an improved risk management approach towards tenants by using Al Etihad Credit bureau products and services in line with international best practice in developed markets.”
FAB Properties is a real estate service provider specialising in end-to-end property solutions. It is headquartered in Abu Dhabi and manages both residential and commercial property in key locations in the UAE.
FAB Properties employs a team of specialised and dedicated experts and operates by implementing best international policies and practices. It provides a number of important services to its customers ranging from marketing, leasing, facility management, financial reporting.
FAB Properties aims to position itself as a pioneer real estate service provider in the UAE and the region and to support the Abu Dhabi 2030 Urban Structure Framework Plan.
Al Etihad Credit Bureau is a Public Joint Stock Company wholly owned by the UAE Federal Government. As per UAE Federal Law No. (6) of 2010 concerning Credit Information, the company is mandated to collect information on individuals and companies from financial and non-financial institutions in the UAE. The information is aggregated, stored, analysed and then produced and distributed through a variety of credit-related products.