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UAE has highest GCC mortgage penetration
- United Arab Emirates: Monday, November 24 - 2008 at 10:27
According to a report produced by ratings agency Moody, the long-term home finance demand potential of the UAE, will be close to $135bn, almost 23% of the $600bn estimated for the GCC. The report revealed mortgage penetration in the Gulf region is less than 4% of the aggregate GDP of the GCC on average and the UAE has the highest penetration at around 10% of the 2008 GDP.
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StaffMonday, November 24 - 2008 at 10:27 UAE local time (GMT+4)
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