Emaar chairman says Dubai’s economy healthy, growing again

Mohammed al-Abbar, Chairman of Emaar Properties, said banks are becoming more cautious in their lending policies. (Al Arabiya)

Economic indicators in Dubai show that the Gulf emirate has recovered from the economic crisis and that its economy is growing again, Mohammed al-Abbar, Chairman of Emaar Properties told Al Arabiya on the sidelines of the World Economic Forum opened in Jordan on Saturday.

Abbar said banks are becoming more cautious in their lending policies and that the central bank is playing a leading role in advocating a favorable environment to acquiring real estate assets in Dubai.

The government of Dubai, he added, has put in place regulatory measures, including guarantees that need to be presented to banks by both buyers and developers. These measures he said have created a “healthier” real estate market.

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Last Update: Wednesday, 20 May 2020 KSA 09:41 - GMT 06:41
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