GCC Enterprise Awards 2017

4 MEA MARKETS / APRIL 2017 , Saudi Home Loans Company (SHL) is a fully Islamic specialized home finance company established to provide its clients with customer focused products and services to finance their home. We invitedMr.Abdulellah ALShaikh - CEO to tell us more about the firmand share the secrets behind its success. Best Real Estate Finance Company - Saudi Arabia Established in 2007, SHL was created as the first Finance Company in the Kingdom of Saudi Arabia to specialise exclusively in providing home finance solutions to citizens and expatriates wishing to buy residential property in the region. Now celebrating its 10th year in business, SHL is proud of the achievements it has made so far, and Munis credits its client focused approach and commitment to excellence throughout the process as the key drivers behind its success. “In the almost ten years that SHL has been operational we have helped more than 8,000 customers realise the dream of owning their own home. Our success is due to the determination of our shareholders that from day one SHL differentiate itself through the quality and consistency of its customer service and that we focus exclusively on residential home purchase. We have built a strong team of colleagues that put the client first in everything we do and ensure that the home buying experience is as straightforward as possible. SHL offers home finance throughout the Kingdom and we are recognised by real estate brokers and other industry professionals for the flexibility of our client proposition meaning that we have a finance solution for almost any scenario. Because our commitment to customer service is at the heart of our proposition we always aim to give speedy and consistent decisions on the applications we receive. “Our team of more than 40 Home Finance Consultants are trained to help prospective clients to find the right home finance solution for their needs. So whether you are looking to buy your first villa or apartment, wish to trade up to find a larger property for your growing family or perhaps want to buy land and build your own home SHL will have a solution for you. “Once the home finance application is received, our back office teams set to work to give a decision and then move to complete the purchase as quickly as possible, keeping our client informed of progress at every stage. We understand that buying a home is often the largest financial commitment someone will ever make in their life so our aim is to make that decision and the process that follows it as simple and stress free as possible. “However, our commitment to service does not end when the property is finally purchased. We have an award winning Client Service team which supports clients throughout their time with us (we offer home finance terms of up to 30 years) and much of our new business referrals come from existing clients who have recommended SHL to their colleagues, family and friends. We undertake regular surveys of recent and longstanding clients to measure satisfaction and to seek feedback that will help us to improve and evolve our standards.” Another key aspect of SHL’s service offering is that all of its finance solutions are Shari’ah compliant and certified by a highly respected Shari’ah Supervisory Board giving clients the reassurance that their home purchase is consistent with Islamic principles. The firm are also licensed and regulated by the Saudi Arabia Monetary Authority (SAMA), ensuring clients can rest assured that they are receiving a service that is in line with their beliefs. This is particularly vital as it has helped SHL to grow as a leader in this rapidly evolving market. The sector has grown a great deal over the decade since SHL was established, as Munis explains. MAB17004 “The demand for residential property in Saudi Arabia is large and growing as the youthful population have great desire to own homes of their own. As in all property markets, transaction prices will fluctuate over time but SHL takes a long term view of the KSA market and because of our exclusive focus on residential property our appetite for supporting the home ownership ambitions of Saudis is not diminished by such price fluctuations. Indeed, our main credit criteria when assessing a new application is about the client’s ability to afford the monthly payment alongside their other commitments and not the underlying value of the property itself. “As the Saudi residential real estate market is relatively new and it is still developing, and as such, over the coming years we expect there will be tremendous growth in the number of property developers and the volume of new properties being built and sold. Likewise, the supporting industries such as real estate brokerages, surveying and valuation companies, property management and maintenance companies will all change, brought about by both buyers needs becoming more sophisticated and as SAMA or other bodies introduce