Dubai PropertyTop Dubai Property Updates Dubai distressed property sales rise as crisis bites By Jason Benham DUBAI, Nov 20 (Reuters) - Distressed sales of Dubai property are increasing as investors rush to offload homes under pressure from the global credit crisis, real estate agents say. Dubai-based Elysian Real Estate this week sent out a text Amlak 'no' to new home loans Amlak Finance, a leading mortgage lender, has put a stop on new home loans amidst growing fears that the global credit crisis will hit Dubai's property sector, a report said. 'We are reviewing our existing credit policy to ensure optimum servicing of Dubai's Palm property prices fall 40 pct - brokers DUBAI, Nov 20 (Reuters) - Property prices on Dubai's Palm Jumeirah island have fallen as much as 40 percent since September as buyers struggle to get mortgage loans amid the global credit crisis, real estate brokers say. A four-bedroom villa on the Dubai shopping spree stalls, retailers tighten belts obtaining mortgages. The UAE's biggest bank Emirates NBD has stopped lending to foreigners who work for top Dubai property firms on fears a slowdown could jeopardise their jobs and income and an Islamic mortgage lender, Amlak, has suspended new loans Amlak puts temporary halt on new home loans Dubai: Amlak Finance PJSC, the UAE's biggest mortgage lender by market value, temporarily stopped granting new home loans as the global credit crisis threatens Dubai's property market and pushes mortgage providers to restructure. 'We are reviewing our Middle East Property Bubble Ready to Burst in 2009 - Nuwireinvestor.com Questions about supply and demand are mounting about real estate in the Middle East, and speculative investment is beginning to decline. In Dubai, property value corrections and signs of a credit crunch have already begun to appear. For more ... UPDATE 1-Dubai real estate suffers as distressed sales rise By Jason Benham DUBAI, Nov 20 (Reuters) - Dubai's property sector suffered a series of blows this week after brokers confirmed a rise in distressed sales, a real estate guide downgraded its rating on residential property and an Islamic lender suspended Dubai distressed property sales rise as crisis bites By Jason Benham DUBAI, Nov 20 (Reuters) - Distressed sales of Dubai property are increasing as investors rush to offload homes under pressure from the global credit crisis, real estate agents say. Dubai-based Elysian Real Estate this week sent out a text UPDATE 1-Dubai shopping spree stalls, retailers tighten belts obtaining mortgages. The UAE's biggest bank Emirates NBD has stopped lending to foreigners who work for top Dubai property firms on fears a slowdown could jeopardise their jobs and income and an Islamic mortgage lender, Amlak, has suspended new loans UPDATE 1-Dubai real estate suffers as distressed sales rise DUBAI, Nov 20 (Reuters) - Dubai's property sector suffered a series of blows this week after brokers confirmed a rise in distressed sales, a real estate guide downgraded its rating on residential property and an Islamic lender suspended new loans. The |