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

UAE averted mortgage crisis

Posted on 24 September 2012

Central Bank says government support prevented fall-out. The UAE faced a real estate mortgage crisis similar to that of the United States but managed to avert the problem thanks to strong government financial support, according to the Central Bank.
The UAE, the second largest Arab economy after Saudi Arabia, had been through conditions similar to those that jolted the real estate markets of the US, Japan and other industrial nations, the Central Bank said in its 45-page financial stability review report………………………………………..Full Article: Source

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