FAB Properties launched

02/04/2018

   

Description

First Gulf Properties has changed its name to FAB Properties. FAB Properties manages a diversified portfolio of more than 20,000 units across different market segments in several emirates.

First Gulf Properties rebrands as FAB Properties

First Gulf Properties, a wholly-owned subsidiary of First Abu Dhabi Bank (FAB), has changed its name to FAB Properties. The real estate service provider, specialized in end-to-end property solutions, has launched a new logo. It is inspired by the look and feel of the FAB brand identity.

Jasim Al Ali, CEO of FAB Properties, said: "Following the launch of the company in 2011, we have successfully built a strong legacy in the industry and have established a solid name for ourselves, where we are identified as one of the UAE’s leading real estate service providers. Though our name has changed, all policies and services will continue as normal, and our commitment to delivering market-leading solutions and expertise remains our top priority. We look forward to continuing to meet the evolving needs of our customers, as we grow stronger, together."

First Abu Dhabi Banks signs escrow deal in RAK

In March 2018, FAB has signed an escrow agreement with the Real Estate Regulatory Administration in Ras Al Khaimah (RERA-RAK). The agreement will allow FAB to open and manage escrow accounts for developers of off-plan property projects in Ras Al Khaimah. It complies with the regulations intended to protect real estate buyers and sellers through registering all projects and off-plan sales in Ras Al Khaimah. FAB has a dedicated Escrow Management team under the umbrella of its Global Transaction Banking business.

First Abu Dhabi Bank (FAB), the UAE’s largest bank, was created by the merger of National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB). The new bank brand identity was launched in March 2017.