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Very negative headlines.. Very negative headlines..
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Very negative headlines..

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  #1  
Old 05-01-2009, 07:08 AM
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Join Date: Nov 2008
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Default Very negative headlines..
UAE banks have not just reached their limit for lending - they're way over it and still need to undergo a 'period of deleveraging'...
UAE banks at high exposure to real estate sector - Banking & Finance - ArabianBusiness.com

Jumeirah Islands down 45%..
Villa prices fall by up to 45% amid real estate slump - Real Estate - ArabianBusiness.com

(The article doesn't mention the one that sold for less than 5m Dhs a couple of weeks ago)
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Old 06-01-2009, 11:18 AM
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Things are definitely negative in the market. I am a mortgage broker in Dubai and can verify that the banks have cut right back. They are all waiting to see what happens. However, they have targets and budgets to meet so cannot stop lending all together.

How will they generate income and growth if they don't lend? Deposits cost money so they have to generate income from lending.

I think once one bank takes the initiative and starts lending again, they will all follow like sheep.
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