Mortgage facility ‘helps Abu Dhabi realty market’

The easy availability of mortgage financing had helped sustain Abu Dhabi’s property sector amidst the global economic crisis, said Masood Al Awar, CEO of Tasweek Real Estate Marketing and Development.

Al Awar's remarks came while delivering a speech on mortgaging’s impact on the growth of Abu Dhabi’s real estate business on the second day of 'Cityscape Abu Dhabi,' the local edition of the region's premier real estate investment and development event.

He was discussing the development of regulatory frameworks for the issuance of mortgages and identified legislative changes needed to enhance the local mortgage system.

Al Awar also evaluated criteria for ensuring sustainable mortgage financing and talked about the benefits of a robust housing financing system.

Source: TradeArabia