There is an interesting interview in Khaleej Times this morning with the Chief Executive Officer of United Arab Bank, Paul Trowbridge.
In it he says: “We have seen property prices starting to recover in key areas. Banks have not fuelled this growth; buyers are seeing value in these properties and have therefore started to enter the market.”
“We believe there is genuine demand from end-users and therefore banks should play a role in supporting such purchases,” he added.
You can read the interview in full here.
It is a further encouraging sign that the property market in Dubai is seeing genuine signs of growth, which will clearly be strengthend by the support of the banks.
No real estate market can thrive on its own. It requires the support of the financial institutions for both the end consumer and the contractors
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