Apr. EN 2019

According to the report, the availability of robust, flexible and modern real estate laws and regulations is a precondition for banks to expand financing operations and consequently inject more cash into the market and ultimately attracting buyers. The report added that GCC governments now prioritise providing appropriate housing solutions to their citizens, including boosting homeownership levels, particularly among mid-low income segments 3 Mazaya Monthly Real Estate Report - Week 1 - April 2019 The report highlighted the availability of 80%-85% loan-to-value over up to 25- year terms for citizens in the Gulf region and up to 75% for residents. The varied nature of real estate products adds to the appeal of financing vehicles, including retail homeownership loans, real estate investment loans, and SME mortgages. In the meantime, banks will continue to compete in providing attractive financing solutions at low rates, ranging between 3%-4.5% in addition to offering credit cards and life insurance packages. A large number of banks now even tend to have a direct relationship with real estate developers in order to gain client trust and accelerate financing, with real estate funding products tailored to Gulf citizens now becoming on top of preferred financing solutions thanks to their high-security levels and availability of all required collaterals.