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FINANCIAL NEWS
UAE’s property loans grows despite challenges
28 Jul 2016
(MENAFN) UAE’s real estate loans has continued to increase despite falling home prices, the International Monetary Fund said.
This results is a clear sign that the UAE is dealing effectively with a real estate downturn than it did in the last drop seven years ago.
In more detail, Dubai’s average residential real estate price decreased 11 percent in the previous year and in Abu Dhabi prices sank 0.8 percent.
Moreover, non-performing loans in the construction and real estate development industries down to 7.5 percent of the total at the end of March 2016.
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