Bank financing to UAE property sector tops USD76bn in H1
Date
8/22/2017 4:35:31 AM
(MENAFN) Bank financing offered to the property and construction sectors in the UAE reached USD76.5bn amid the first half of the year, growing by Dh16.5bn.
Accordingly, funding offered to the sectors covered 19.3 percent of the whole credit channeled to all business platforms in the nation.
In addition, property loans interest rates recently range at 4-5 percent, given the recent recovery posted at the sector.
Furthermore, credit flows to the realty and construction market increases in the Jan-June period, reaching Dh2.3bn amid Q1, jumping to Dh14.2bn in Q2.
MENAFN2208201700450000ID1095758595
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.