Arab Today, arab today local banks awash with cash for real estate lending
Last Updated : GMT 06:51:55
Arab Today, arab today
Arab Today, arab today

Local banks awash with cash for real estate lending

Arab Today, arab today

Arab Today, arab today Local banks awash with cash for real estate lending

Amman - Arabstoday

Around JD1.5 billion is still available at local banks to lend to the real estate sector, official data show. According to Central Bank of Jordan (CBJ) regulations, the maximum limit of credit facilities extended by licensed commercial banks to the real estate sector should not exceed 20 per cent of overall deposits in Jordanian dinar. The credit facilities to the sector include construction of property, renovation, expansion and purchase. An official at the CBJ told The Jordan Times that the loans extended to the property sector reached by the end of July JD2.2 billion or 12 per cent of the overall deposits at local banks, leaving a plenty of room for further lending. Out of nearly JD19 billion in deposits, the remaining 8 per cent stands at around JD1.5 billion. Commenting on the figures, President of the Housing Investors Society Zuhair Omari said that the availability of this cash at the banks, coupled with the eased lending policies in the local banking sector and the government exemptions that are valid till the end of the year, is likely to trigger a boom in the real estate industry in the fourth quarter. However, he said that the loans bound for the real estate sector cover “too many” activities such as commercial and tourism projects, urging the CBJ to allocate a quota for housing purposes only. “Access to credit facilities has become much easier than two or three years ago in the aftermath of the global financial crisis,” he said, adding that, however, interest rates on housing loans are still relatively high. Under government incentives, the first 150 square metres of residential apartments sized 300 sq.m. are exempted from registration fees. The year-long exemptions will expire by the end of this year.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today local banks awash with cash for real estate lending Arab Today, arab today local banks awash with cash for real estate lending

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today local banks awash with cash for real estate lending Arab Today, arab today local banks awash with cash for real estate lending

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday