Webinar highlights role of credit reporting in advancing real estate sector

Webinar highlights role of credit reporting in advancing real estate sector

Dubai, UAE: Dubai Chamber of Commerce, in cooperation with Al Etihad Credit Bureau (AECB) and the Dubai Land Department, recently co-organised a webinar which highlighted the importance of using credit information to improving transparency and practices in the real estate sector.

The webinar, led by H.E. Abdul Aziz Al Ghurair, was attended by more than 150 businesspeople, including representatives from Dubai Chamber of Commerce member companies. Sessions and presentations identified a number of credit solutions and products provided by AECB that have enhanced competitiveness and investor confidence in the property market.

Addressing participants, H.E. Hamad Buamim, President & CEO of Dubai Chambers said: One of the key factors that has set Dubai apart from other sought-after real estate markets is the speed at which new regulation and initiatives are introduced and updated in order to meet the changing needs of investors. The use of AECB’s reports and scores by real estate companies to assess the financial health of tenants is an indication that the UAE property market is maturing and heading in the right direction.

H.E. Buamim pointed out the various benefits of using credit information, including the ability to better assess risks associated with new tenants fulfilling their payment obligations and renewals