MPM Properties appointed Verification Consultant by the Federal Tax Authority

Abu Dhabi: MPM Properties, the real estate advisory subsidiary of Abu Dhabi Islamic Bank (ADIB), has been appointed Verification Consultant by the Federal Tax Authority. In this role, MPM Properties will verify and validate applications made by local residents seeking a 5 percent VAT refund for the cost of constructing a residential property through the Federal Tax Authority’s (FTA) online portal.

MPM Properties will collaborate closely with the FTA to check an applicant’s supporting accreditation to ensure that each case can be processed swiftly and in a secure and effective manner. The agreement was signed by Khaled Al Mansouri, executive chairman of MPM Properties, and Khalid Al Bustani Director General, from the FTA, at the FTA’s offices in DIFC, Dubai on December 4, 2018.

Commenting on the appointment, Khalid Ali Almansoori, executive chairman of MPM Properties, said: “This partnership with the FTA will support the further growth and development of MPM Properties over coming years. It is a testament to the team’s property experience and expertise, as well as our customer service and ability to process a significant amount of digital applications in an efficient manner. We are extremely proud to collaborate with the FTA to help local residents achieve their dream of building a home. We look forward to forging a strong partnership with the FTA for many years to come.”

MPM Properties is a multi-disciplined real estate consultancy delivering a comprehensive range of Sharia’a-compliant property services to help clients create value. With offices across the UAE, the team has widespread experience covering the entire property lifecycle from planning to development, and handover to occupation.

In October 2018, MPM Properties was awarded ‘Property Consultancy of the Year’ in Abu Dhabi, ‘Real Estate Agency of the Year - Abu Dhabi’, ‘Award Winner Lettings Agency’ in Abu Dhabi; and ‘Award Winner Property Consultancy’ in Dubai at The African & Arabian Property Awards.

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About ADIB

ADIB is a leading bank in the UAE with more than AED 122 billion in assets. Its 1 million customers benefit from the third largest distribution network in the UAE with 82 branches and more than 710 ATMs. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides retail, corporate, business, private banking and wealth management solutions. The bank was established in 1997 and its shares are traded on the Abu Dhabi Securities Exchange (ADX).

In the UAE, the Bank has more than 2,000 employees and remains one of the leading banks in the recruitment, development and promotion of local talent in all the markets in which it operates. The bank has one of the highest Emiratisation ratios with more than 37 percent of the bank’s workforce being UAE Nationals.

ADIB has presence in six strategic markets: Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Sudan, Iraq and Qatar.

Named “Best Bank in the UAE” by The Financial Times’ The Banker publication, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Etihad and Etisalat and a wide range of financing products.

For media information, please visit www.adib.ae or contact:

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