Browse
related articles
ADCB stops Hydra Village loans
- United Arab Emirates: Thursday, May 21 - 2009 at 12:56
Abu Dhabi Commercial Bank (ADCB) has announced that it will no longer offer mortgages for properties in the Hydra Village development, The National has reported. Arup Mukhopadhyay, head of retail banking at ADCB has said that the bank has a pre-decided limit on the amount of exposure it takes on for every developer and project. 'Hydra has reached that limit, and we will not take on any new mortgage cases,' Mukhopadhyay said. ADCB was the main mortgage provider to the project, which is facing a two-year delay.
Also consider reading:
Today's top stories
Week's top stories
Browse
related articles
- » Moody's: UAE banks with largest exposures to Dubai World remain on review
- » Abu Dhabi to 'pick and choose' Dubai support
- » Samsung halts Dubai bridge work amidst Dubai debt crisis
- » Dubai World announcement serves as wake-up call to world markets
- » Fitch downgrades Dubai Bank, Tamweel and TAIB Bank on Dubai World restructuring proposal
Disclaimer:
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / Emap Limited and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / Emap Limited can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / Emap Limited.
In no event shall AME Info FZ LLC / Emap Limited be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
Staff
