Easa Saleh Al Gurg Group (ESAG), one of UAE’s leading business conglomerates, said its real estate unit has announced a partnership deal with the National Bank of Fujairah that will provide the tenants at all its properties with the option to pay their rent in monthly direct debit installments.
The forward-thinking collaboration will provide greater flexibility to tenants who have traditionally paid rent by cheque through quarterly installments.
ESAG Real Estate is one of the first private sector landlords in UAE to offer this facility to tenants, said the statement from the company.
Customers will now be able to fill in a single direct debit authority form for their rent to be deducted monthly, it stated.
The system, which has been thoroughly tested, utilises National Bank of Fujairah’s secure and convenient digital payment systems. The solution has been enabled in collaboration with Direct Debit System FZ LLE, a Dubai based payment management business, the statement added.
Group CEO Abdulla Al Gurg said: "Traditional methods of rental payments no longer serve the best interests of our customers. The option to pay their rent using monthly direct debit makes life easier for tenants and will help lighten financial strain, underlining our commitment to responding to our tenants’ needs. Furthermore, it highlights our group’s alignment with Dubai’s aim to be a smart and digitised city."
“This initiative has been possible thanks to the commitment of our partners at National Bank of Fujairah and we are thankful for their adaptability and belief in our vision. We look forward to our customers using this facility, which ensures a better, more efficient payment experience,” added Al Gurg.
National Bank of Fujairah CEO Vince Cook said: "Our collaboration with ESAG Real Estate will serve as a leading example on how to transition to modern payment pathways within the real estate sector and across multiple industries."
The direct debit option is now available to tenants of all ESAG Real Estate properties as well as properties managed on behalf of Easa Saleh Al Gurg Charity Foundation. The Group is confident it will be of great benefit to its clients.
"Today’s customers are increasingly looking for convenience, and this partnership is in line with the bank’s aim of supporting clients’ personal and professional needs," he added.-TradeArabia News Service