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UAE has highest GCC mortgage penetration

 
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Kirk
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Joined: 01 Jan 1970
Posts: 2292
PostPosted: Mon Nov 24, 2008 7:07 pm    Post subject: UAE has highest GCC mortgage penetration Reply with quote
According to a report produced by ratings agency Moody, the long-term home finance demand potential of the UAE, will be close to $135bn, almost 23% of the $600bn estimated for the GCC. The report revealed mortgage penetration in the Gulf region is less than 4% of the aggregate GDP of the GCC on average and the UAE has the highest penetration at around 10% of the 2008 GDP.

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