UAE – Mubasher: Banks in the UAE have pumped around AED 29.9 billion into the real estate sector in the year ended 31 March 2019, including AED 15.6 billion in the first quarter of 2019, statistics by the Central Bank of the UAE (CBUAE) showed.
The banks have boosted their finance in the real estate sector to AED 259.2 billion at the end of March, up 13% year-on-year from AED 229.3 billion, statistics revealed.
Banking finances into the sector rose at the end of June 2018 to AED 236.3 billion to maintain growth to AED 243.6 billion at the end of December.
Total banking finances to the real estate and construction sector increased to AED 323.4 billion at the end of March, up 7.6% or AED 22.9 billion from AED 300.5 billion in the same month of 2018, according to statistics.
