25 August 2009

Value of real estate finances in Dubai top AED 1.9 billion in Q2 ’09, reports REIDIN.com

Second quarter of the year witnessed completion of 333 mortgage transactions 

The value of mortgages issued in Dubai topped AED 1.9 billion during the second quarter of 2009, from a total of 333 transactions  completed within the emirate, according to DUBAIFocus, a product by REIDIN.com, world’s first online information company focusing on real estate markets in emerging countries. While the market is in a critical correction phase where there is growing need for regulation and transparency within the industry, governments are taking steps to encourage stabilisation in terms of property prices and investor confidence and thus open up growth opportunities for the mortgage industry. With aims of providing the market with relevant information that can help in their investment decisions, DUBAIFocus is being offered by REIDIN.com, in partnership with RERA and the Dubai Land Department.

During the second quarter of 2009, according to DLD records National Bank of Dubai is registered on five real estate transactions worth AED 162 million, while Dubai Islamic Bank (DIB) on AED 121 million through a total of six real estate transactions.

Numbers reflected in this press release and DUBAIFocus are from RERA/DLD records and do not necessarily reflect an actual financial transaction extended by a financial institution. These numbers are registered by RERA/DLD on Title Deeds can be financial guarantees only and there may be big differences with the actual numbers extended by the financial institutions. REIDIN.com makes no representations about the accuracy or suitability of the information. The information is provided “as is” without express or implied warranty. Any person viewing these numbers must make their own independent enquiries before relying on any information provided on REIDIN.com or RERA/DLD sources.

About REIDIN.com
REIDIN.com is the world’s first online information company providing a range of intelligence products dedicated to meeting the unique requirements of real estate market professionals interested in emerging markets. REIDIN.com services are used by investors, fund managers, developers, consultants, researchers, valuation experts, construction and project managers, occupiers, as well as many others who are interested in monitoring and understanding the market trends and business challenges relevant to them in real estate markets.

REIDIN.com provides hard to find proprietary business news, analysis, research, data and intelligence with online tools and services that enable real estate professionals to enhance their understanding of emerging markets such as United Arab Emirates, China, India, Vietnam, Singapore, Malaysia, Russia, Saudi Arabia, Kuwait, Turkey, Poland, Bulgaria, Romania, Hungary, Brazil, Argentina and more.

Moreover, to cater to the specific demands of Dubai’s booming property market, REIDIN.com has teamed up with the Dubai Land Department to establish DUBAIFocus, the first exclusive online information product tracking real estate deals and transactions in Dubai. DUBAIFocus