Banks in the UAE have had to adjust their lending parameters as the residential mortgage market gradually enters a more mature phase. Real property laws have been evolving dynamically and mortgage lenders have had to adjust their lending parameters accordingly. Homebuyers, and even seasoned property sales professionals, are faced with daunting task of staying abreast of shifting underwriting guidelines within the real estate lending industry.
In order to alleviate much of the confusion surrounding Dubai's dynamic mortgage market, Almas Capital will conduct a residential mortgage lending seminar covering fundamental issues in the local market. The program will be held at the Grand Hyatt Dubai on September 14th.
"Most homebuyers, real estate agents, and property investors lack a proper understanding of the ever-changing mortgage market in Dubai. This seminar, in conjunction with up-to-date information from our website at www.almascap.com, will help participants of Dubai's booming real estate sector obtain financing for their residential purchases," said Barmak Besharaty, CEO of Almas Capital.
"The tremendous growth of Dubai's real estate sector has encouraged a growing number of banking institutions to enter the real estate loan market. Each of these banks establishes a set of lending parameters with the purpose of differentiating themselves from competitors. For example, some banks will lend to non-residents whereas others will only lend to GCC nationals. Some focus on Islamic finance while their competition adheres strictly to conventional mortgage loans. Property investors and real estate agents are legitimately confused by the variety of options and the corresponding limitations of individual loan products. To address these issues, we are utilizing a two-pronged strategy to help participants get a handle on these complexities. First, our real estate lending seminar will give buyers and agents overall familiarity with specific mortgaging issues that are prevalent in Dubai's real estate lending industry. Then their initial learning experience will be complement! ed through updated information and knowledge-based articles available at the Almas Capital website."
Besharaty, who holds an MBA from the prestigious Wharton Business School, will be leading the September seminar program. He is a published author with articles appearing in major financial magazines in the United States and in the United Arab Emirates.
