UAE banks involved in real estate projects want to raise yearly quota
UAE banks involved in real estate projects may consider approaching the UAE Central Bank asking to raise the yearly quota of 20 per cent for the real estate mortgage and financing they currently enjoy. Will Mckintosh, head of freehold and leasehold sales, real estate department at First Gulf Bank, told Khaleej Times that with the booming real estate market and the increasing number of developments coming up in the market, the current ceiling of 20 per cent imposed by the Central Bank several years ago is not enough.
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