Tamweel introduces fastest real estate finance processing in UAE

The 48-hour process, involving two working days, will be carried out for all complete applications accompanied by required supporting documents. For any delays in process of such full applications, Tamweel guarantees to reimburse to the applicant an amount of Dhs1,000 for every delayed working day up to a maximum of the arrangement fees paid. The new approval process is available at all Tamweel branches in the country.

Adel Al Shirawi, Chief Executive Office, Tamweel, said:

"We made our people think in hours instead of days. As per our studies, the market average time taken to process a mortgage application is between 650 and 900 hours. We did a dramatic change by re-engineering our processes to bring it to 48 hours. The money back element reflects our confidence in our ability to meet this short timeline and our commitment to our customers to fulfil the 48 hours promise."

"In addition to our strong financial fundamentals, innovative products and carefully planned market expansion, streamlining our internal process with faster approvals is a significant step forward in consolidating our market leadership position," added Al Shirawi.

"We constantly listen to our customers and respond to their growing needs. Our customers might take time to identify their home, but when they do, they require a hassle-free and quick turnaround from the home finance partner. We have re-engineered our internal processes and system capabilities to make it easier and faster for our customers to move in to their dream home."

He explained that the new offer stemmed from the company's recognition of today's fast-paced lifestyles and the vibrant property market, making it necessary to consider what is offered to customers, how it is offered and what additional services are provided, to make the home-buying process seamlessly smooth.

"Our vision of becoming the most admired leader in the financial industry is backed by service quality. After the accomplishment of our first mission of securing our home base, we are now poised to secure our second mission of service excellence and to set a true regional benchmark for process re-engineering. This was achieved through the will and dedication of Tamweel's employees who are the true drivers of this initiative, rather than through system enhancement." Al-Shirawi added.

Tamweel continues to lead in product innovation and service differentiation in the UAE and plans to export its know-how and service offering on its ambitious expansion journey in the region, thus fulfilling the dream of seamless home ownership to the people of the region.