As the mortgage business proves to be successful in Dubai, additional banks are set to enter the market, mainly when the new property law comes into force, Khaleej Times reported Monday. With the rising number of banks entering the mortgage market the competition will be intensified, leading to lower interest rates, industry experts projected.
According to the paper, the freehold Dubai property market has already created an active mortgage market, with more than half a dozen players offering both fixed and variable rate products.
