UAE mortgage market to reach Dhs64bn over the next three years

Amidst country's booming property investment sector, Bonyan International Investment Group (Holding) L.L.C, one of the leading real estate companies in Dubai, announced it aims to leverage the favourable investment climate in the country, with plans of launching more projects that offer high and quick return on investment (ROI) to its growing number of regional and global clients.

The mortgage market in the GCC at large has seen massive growth over the past year, as a result of the on-going regional real estate boom. As one of the fastest growing GCC economies, the UAE is perceived by global investors as the best market for capital gains growth, and has been identified as the only Gulf country to witness an increase in consumer confidence for the second half of this year. This can be attributed to the UAE's pioneering move to allow foreigners to invest in local property, which created outstanding opportunities for world-class developers such as Bonyan to attract investors to the country.

"Our plan of action in relation to the uptrend in the UAE's mortgage market will be to expand our portfolio of high return and low risk projects by investing further into developing innovative concepts and forging strategic partnerships,"

said Eng. Abdullah Atatreh, Chairman, Bonyan International Investment Group (Holding) L.L.C.

With the favourable market scenario driving high returns on investment, our aim is to surpass the industry standard rates and offer the highest profits for our clients."

Capital gains and income yields have been much higher in the UAE than most other international property markets, with investors acquiring investments with no personal income of capital gains taxes. Amidst the rapid market uptrend, the Bonyan Group is currently undertaking regional projects and enhancing its full suite of integrated and research-based services as part of its aims to expand its project portfolio to Dhs15bn in 3 years. Among its latest successes is the sales turnout of the Dhs3.5bn 'Eye of Ajman' community development, where it has sold majority of its plots, and the recent sell out of its Dhs5bn 'Sama Al Jaddaf' project.

"Although we are seeing tremendous growth across the entire UAE market, we believe that we have yet to tap into its full potential and that we will be seeing further massive turnovers in the property investment sector. Our experience as an established developer in Dubai will continue to give us a strong leverage, and we pledge our commitment to perpetually meet our clients' and investors expectations with regard to deadlines and construction standards in line with our core values of 'trust, commitment, and high return on investment'," concluded Eng. Atatreh.

With a clear objective to become one of the top five developers across the region, Bonyan has pioneered one of the first towers for long-term lease in Sharjah and was responsible for building a number of luxury residential and high profile commercial developments in the UAE, Qatar and Lebanon. To date, Bonyan has developed Dhs3bn worth of residential and commercial developments in Dubai, including Rose Tower and Lulu Tower.