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

Dubai risking bubble redux with lowest rates: Mortgages

Posted on 27 November 2012

Dubai, the desert sheikdom where home prices have plunged 65 percent since 2008, risks re- inflating its property bubble with the help of mortgage lenders offering easy terms and the lowest rates ever.
“I don’t like it when I see mortgages going back to 90 percent lending, that’s not good for the industry,” said Abdul Aziz Al Ghurair, head of the United Arab Emirates’ Bankers’ Association and chief executive officer of Dubai’s Mashreqbank PSC. (MASQ) “We don’t want to encourage people to gamble.”……………………………………….Full Article: Source


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