Dubai – Mubasher: Damac Properties said that its in-house mortgage department has so far provided home financing worth AED 600 million for hundreds of units across the UAE, according to a statement.
Damac is the only developer in the Middle East that boasts a dedicated in-house mortgage department to provide direct support for existing and new customers.
Mortgages currently comprise 55% of real estate sales activity in Dubai, more than doubling over the past seven years, according to a recent report by Reidin/Global Capital Partners.
In 2012, the ratio of mortgages-to-sales activity in Dubai was below 20%.
