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Real Estate Briefing - Categorized | Middle East and Africa, Mortgage more

UAE mortgage market remains very small

Posted on 23 December 2010

From Khaleejtimes.com: The mortgage market penetration in the UAE, which is just seven per cent of its Gross Domestic Product (GDP), remains very small by global standards, says a report by NCB Capital.
Stressing that an active mortgage market in the Gulf is now the need of the hour, the report said the UAE and other GCC countries lag far behind the developed countries with an average mortgage penetration of five per cent of the region’s GDP compared to 70 per cent penetration in the US and 50 per cent in the UK, NCB, Saudi Arabia’s largest investment bank said……………………………………….Full Article: Source

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