Hamptons International signs valuation contract agreement with Al Hilal Bank

Hamptons International, the leading one-stop property services company, has signed a valuations contract agreement with Al Hilal Bank, the Islamic banking institution wholly owned by the Abu Dhabi Investment Council. Under the contract, Al Hilal Bank will include Hamptons Valuations in their exclusive valuation panel for mortgage and retail businesses.

Al Hilal Bank becomes the 25th financial institution partner of Hamptons, and highlights the company’s plans to expand regionally across the Middle East and North Africa (MENA). The Hamptons Valuation team is part of the Valuations and Research Department, which plays a crucial role in assessing the value of property, mortgage and market potential.

Mr. Nasser Abdul Rahman Rafi, Managing Director, Hamptons International, said: « Valuation is one of the critical aspects in property sales and management and has long-term implications for the buyers and sellers. By partnering with leading financial institutions in the valuation process, Hamptons offers customers the benefit of fair value assessments undertaken in collaboration with trusted third parties. Al Hilal Bank is bringing a fresh approach to Islamic banking, and our contract agreement expands our reach to the growing portfolio of Al Hilal Bank customers. »

Mr. Mohamed Jamil Berro, CEO, Al Hilal Bank, said: « Hamptons is fast gaining ground as the leading property services company in the UAE with offices in Dubai and Abu Dhabi. The contract agreement to include the Hamptons Valuation team on our panel will enable us to strengthen valuation procedures for our mortgage and retail business. This complements our commitment to become the region’s leading financial institution offering a broad spectrum of value-added services. »

Hamptons has already partnered with Amlak Finance, Lloyds Bank, Union National Bank, First Gulf Bank, Barclays Bank, Mashreq Bank, Dubai First, HSBC, Dubai Bank, National Bank of Dubai, Badr Al-Islami, RAK Bank, Dubai Islamic Bank, National Bank of Fujairah, Mawarid Finance, Trammel Finance, Habib Bank AG Zurich, National Bank of UAQ, Emirates Islamic Bank, Finance House, Noor Islamic Bank, Standard Chartered, Commercial Bank of Dubai and National Bank of Oman for valuation services, to name but a few.

Discussions are ongoing with leading financial institutions in the GCC region for further partnerships, highlighting the growth plans of Hamptons International to establish a strong base across the MENA region.

Mr. Rafi added: « Apart from our strong database and track-record, our team members have an extensive understanding and knowledge of both local and international property markets. Hamptons is therefore equipped to provide timely, up-to-date and reliable valuations of many types of property – including residential, commercial, industrial, retail, hospitality and leisure. »

Hamptons is a 138-year-old company with headquarters based in Dubai, and was acquired by Emaar in 2006. The property portfolio of Hamptons includes leading projects in the UAE as well as from international markets. The company has over 85 offices worldwide, allowing both regional and international customers access to a diverse property portfolio ranging from across the region as well as overseas.

Press Release July 30, 2008


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