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Dubai: The UAE's mortgage market will leap from Dh20 billion by the end of this year to reach Dh64 billion over the next three years, according to a recent market study, with Sharia-compliant house financing making up more than 60 per cent of this figure.
Amidst the country's booming property investment sector, Bonyan International Investment Group (Holding) L.L.C, one of the real estate companies in Dubai, announced that it aims to leverage the favourable investment climate in the country, with plans of launching more projects that offer high and quick return on investment (ROI) to its growing number of regional and global clients.
The mortgage market in the GCC at large has seen massive growth over the past year, as a result of the ongoing regional real estate boom.
As one of the fastest growing GCC economies, the UAE is perceived by global investors as the best market for capital gains growth, and has been identified as the only Gulf country to witness an increase in consumer confidence for the second half of this year.
This can be attributed to the UAE's pioneering move to allow foreigners to invest in local property, which created outstanding opportunities for world-class developers such as Bonyan to attract investors to the country.
"Our plan of action in relation to the up trend in the UAE's mortgage market will be to expand our portfolio of high return and low risk projects by investing further into developing innovative concepts and forging strategic partnerships," said Eng. Abdullah Atatreh, Chairman, Bonyan International Investment Group (Holding) L.L.C.
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