Al Ittihad News
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Dubai real estate agent Laura Adams remembers the Iranian homebuyer because of how he wanted to pay.
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United Arab Emirates lenders are proposing expatriates be allowed to borrow as much as 75 percent of the value of their first home after the central bank said such loans should be limited to half the property’s value.
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United Arab Emirates lenders are proposing expatriates be allowed to borrow as much as 75 percent of the value of their first home after the central bank said such loans should be limited to half the property’s value.
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The United Arab Emirates’ central bank has asked the nation’s lenders for opinion on a planned mortgage ceiling, the state-run news agency WAM reported.
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The United Arab Emirates plans to issue regulations governing the mortgage market in six to nine months, central bank governor Sultan Bin Nasser Al-Suwaidi said.
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Nakheel PJSC is in talks with banks to arrange financing for new projects in Dubai, Al-Ittihad reported, citing Chairman Ali Rashed Lootah.
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The United Arab Emirates plans to build 138 villas for nationals in Fujairah and Ras Al Khaima to replace homes damaged by a 2002 earthquake, Al-Ittihad reported.
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The United Arab Emirates and Libya agreed to launch an 11 billion dirham ($3 billion) joint investment fund, Al Ittihad reported, citing Jamal El Lamoushi, secretary general of the Libyan Investment Board.
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Contractors that had their payments frozen when Nakheel, a Dubai-based developer, announced reorganization in 2009 are demanding 8 billion dirhams ($2.2 billion) in compensation, Al Ittihad reported, citing Nakheel Chairman Ali Rashid Lootah.
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Nakheel PJSC, the Dubai World-owned property developer, is close to reaching a final agreement with its creditors, Al Ittihad reported, citing a government official it didn’t identify.
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