UAE: Dh1.2 million loan not enough to build house

Published December 25th, 2005 - 07:56 GMT
Al Bawaba
Al Bawaba

A sum of Dh1.2 million offered as a soft loan is insufficient for UAE nationals wanting to build houses, experts claim. According to Gulf News, a legal consultant at the Loan Authority, Ali Al Hosani, agreed with complaints from nationals that Dh1.2 million is not enough to build a house. However, he said there were no plans to raise the Dh1.2 million loan and nationals would have to make do with this amount.