FGB launches inaugural National Housing Loans exhibition

ABU DHABI: FGB, one of the leading banks in the UAE, launched its inaugural National Housing Loans exhibition today, which is being held under the patronage of H.H. Sheikh Tahnoun bin Zayed Al Nahyan, Chairman of the bank.

The event will be running for three days to 17th December, at the Abu Dhabi National Exhibition Centre.

The exhibition was formally opened by Ahmed Ali Al Sayegh, Vice Chairman of FGB. It is the first event in the UAE to offer Emiratis who are applying for, or who have received housing loans, a chance to meet with suppliers, contractors and consultants under one roof.

Visitors will be able to obtain much important information to aid them in building their dream home, utilising their loans as efficiently as possible.

Commenting on the launch of the event, Al Sayegh said, “FGB is hosting this event for the first time in the UAE in line with our commitment to support our leadership’s vision to provide Emiratis with financial stability. FGB is known for its continuous efforts to support UAE Nationals and we are always developing products and services that are tailored to our Emirati customers’ needs.” He added, “FGB was mandated with the task of managing National Housing Loans in an agreement signed with the government of Abu Dhabi in January 2007. The total number of approved loans that have been received by FGB from Abu Dhabi’s government amount to 23,581. To date, we have met with 19,269 Emirati customers, and we have opened folders in their names to commence work on their homes.

The bank has overseen a total of 14,583 projects to date, 10,583 of which have been completed, and 4,000 are under construction. The total value of these projects are AED24.188 billion.” Mohammed AlMansoori, Head of NHL at FGB, said, “This exhibition reflects our strategy to always “Be First” in our efforts to support UAE nationals through innovative products, services and initiatives. We are always looking for the best ways to inform Emiratis about the opportunities available to them for housing loans and home building, and we believe that this exhibition offers the ideal platform for them to interact directly with specialised companies in this area.” A large number of Emiratis visited the exhibition on its first day, where they had the chance to meet with over 100 exhibitors consisting of consultants, building materials suppliers, contractors and subcontractors in the electric, plumbing, finishing and construction sectors. FGB, Aseel Islamic Finance and Dubai First also provided customers with information on different services.

FGB’s NHL department currently employs over 60 staff members, which includes engineering and administration teams. The NHL team manages the loan process and all related aspects, including technical reviews of home designs, overseeing tendering processes and project, financial, credit and fee collection management.

The NHL Department has offices in Al Ain, the Western Region and Abu Dhabi city to offer comprehensive services to Emiratis in their respective regions. FGB’s NHL department’s database has over 686 consultant offices, and 4,916 contactors.

By visiting FGB’s stand at the event, customers were introduced to a range of products that the bank created specifically to aid its clients in meeting their goals. Aside from NHL-related services, the bank is showcasing international wealth management products, and property financing solutions.

The bank also presented its Emirati Savings Programme, Elite Concierge services, World Elite credit card. FGB representatives provided visitors with vehicle financing options, in addition to explaining the benefits of its leading cards such as the Ferrari, Manchester and Masdar cards.