Dubai Property Society (DPS), an association of professionals engaged in the real estate sector in Dubai, on Wednesday sought new steps to encourage mortgage lending to revive the property sector that has seen a sharp fall in transaction volumes.
At a media briefing, representatives of leading companies said both government authorities and the private sector need to work in tandem to boost demand.
Shaikh Khalid Bin Zayed Al Nahyan, executive chairman of Tamweel, said Dubai-based mortgage lenders Amlak and Tamweel will resume providing finance to home buyers within weeks. The two would resume lending activities before moving ahead with a likely merger.
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