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Property firms improve risk management practice

Dubai, August 1, 2009

Leading real estate firms Landmark Properties and New England International Real Estate are integrating a cheque-reporting solution into their business processes further enhancing their risk management practices.

EmBounce, a cheque-reporting solution by Emcredit, the UAE’s first government-backed credit information services company, will provide in-depth insight into the cheque-honouring and payment habits of existing and potential tenants in the UAE.

This, in turn, allows both companies to better assess their customers, provide additional payment flexibility with reassurance and offer faster and more efficient processing of sales and tenancy agreements, thereby further enhancing and improving service levels to their customers, landlords and developers.

Landmark Properties is among the leading real estate brokerage firms and consultancy providers in the UAE; New England International Real Estate offers a full range of real estate consultancy services in all major market sectors, covering offices, retail, residential and hotel properties.

“The benefits of credit reporting have grown beyond the financial services industry,” said Zaid Kamhawi, chief business officer, Emcredit. “The availability of accurate and timely information on customer’s credit patterns empowers businesses with clearer insights, helping them make business decisions accordingly.

“Our partnership with Landmark Properties and New England International Real Estate demonstrates that the real estate sector is fast-recognising the significant role of credit records in gaining better perspective on their tenants," he added.

"Assessing the cheque-honouring behaviour of individuals will enable the industry to offer competitive services to worthy customers, as well as promote prudent financial habits among consumers."

Charles Neil, chief financial officer, Landmark Properties, said: “Cheques are the widely used payment mode in our business. A clear assessment of our client’s cheque-honouring records strengthens risk mitigation practices. In these challenging times for the real estate sector, Emcredit’s emBounce solution will enable us to provide a value-added service to our clients, while also offering tailored solutions to tenants.”

“Globally, credit reports are integral to our tenant assessment process and we are pleased to introduce this in our UAE operations,” said Susan Tulloch - sales director New England International Real Estate.

“Embounce will help us to identify potential cases of default. Through our partnership with Emcredit, we will be able to better support our clients by reducing incidences of delayed payments and defaults, enhancing our service offering,” she added.

In addition to Landmark Properties and New England International Real Estate, Emcredit also provides Better Homes with cheque-reporting solutions. – TradeArabia News Service




Tags: Dubai | Emcredit | Risk management | Cheque reporting |

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