12.10.2011 - Development of mortgage finance key to growth of housing
R Lakshmanan, Chief Executive Officer of Bahrain-based Sakana Holistic Housing Solutions the Islamic mortgage finance provider was one of the panel speakers about "developing an advanced mortgage finance market to drive growth" at the recently held Cityscape Global Focus Forums held in Dubai, UAE. Mr. Lakshmanan said that mortgage finance industry has grown significantly over the last decade in the region with the advent of freehold property. This has resulted in establishment of numerous dedicated mortgage finance companies and introduction of mortgage product offerings by retail banks. Prior to freehold, mortgages were primarily provided by Government Housing Finance institutions to its nationals. (Press Release)