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UAE housing mortgage market to surge
- United Arab Emirates: Wednesday, December 12 - 2007 at 07:18
The UAE's housing mortgage market will increase nine-fold during the next five years to Dhs161bn ($44bn) in 2012, according to a research report by EFG-Hermes, a regional investment bank. The report said the UAE's financial system had a total of Dhs46.3bn in mortgage assets up to the end of the second quarter of 2007, including a large amount of commercial mortgages. Housing mortgages are estimated to be at less than Dhs18bn for 2007, reported Gulf News.
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Jeff Florian, Senior ReporterWednesday, December 12 - 2007 at 07:18 UAE local time (GMT+4)
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