UAE credit scores will include property payments soon

The UAE will soon incorporate property-related payments, including rent and service charges, into residents' credit scores, impacting their financial standing. This change, announced by the Etihad Credit Bureau, aims to reflect individuals' payment behavior more comprehensively, influencing loan approvals and funding levels from banks. The initiative will begin with rental payments, followed by service charges for property owners. The expansion also includes off-plan property payments, aiming to mitigate risks for developers and streamline legal processes related to property transactions.