A number of Dubai banks are close to launching a new mortgage product targeted at overseas investors looking to buy property in the emirate, it is claimed.
Mortgage financing in Dubai ground to a halt after the global credit crisis caused prices to plunge by more than 60% and forced the UAE’s two biggest mortgage providers to stop lending for almost two years.
Now lenders are keen to attract more overseas buyers and new mortgage products are regarded as one of the best ways of doing this.
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