uae mortgage credit shrinks
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

UAE mortgage credit shrinks

Arab Today, arab today

Arab Today, arab today UAE mortgage credit shrinks

Dubai - Arabstoday

Bank credit to the UAE real estate sector lost steam it gained through 2010 and dropped by around Dhthree billion in the first nine months of 2011 as the sector appears to be still reeling under the 2008 global fiscal crisis. The current political unrest in the Middle East and North Africa also seems to have allied with the post-crisis tightness by UAE banks ’ to keep overall credit growth at low levels despite acceleration in the country’s GDP growth. From around Dh163.1 billion at the end of 2010, real estate mortgage credit receded to about Dh160.1 billion at the end of September, the Central Bank said in its latest monthly bulletin released this week. The decline followed a recovery in such loans by around Dh22 billion through 2010 compared with nearly Dh16 billion in 2009, when the sector was hit hard by the 2008 crisis after years of boom caused by high oil prices. Mortgage lending activity hit an all time high during 2008, when credit leaped by nearly Dh69 billion from Dh56.4 billion at the end of 2007 to Dh125.8 billion at the end of 2008, a staggering increase of about 123 per cent. The activity was also at its peak through 2007, when real estate credit nearly doubled to around Dh56.4 billion at the end of the year. The report showed total domestic credit edged up by around 2.6 per cent to Dh998 billion at the end of September from Dh972 billion at the end of 2010. Claims on the government grew to Dh105.5 billion from Dh99.9 billion. The banks’ total assets jumped by nearly Dh65 billion to reach Dh1,674 billion at the end of September compared with about Dh1,609.2 billion at the end of 2010.

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*

uae mortgage credit shrinks uae mortgage credit shrinks

 



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*

uae mortgage credit shrinks uae mortgage credit shrinks

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
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

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday