AED 33.5 billion in real estate and construction finance during the year

Media in Abu Dhabi 7 June 2018 / WAM /
The total value of financial facilities acquired by the real estate and construction sector from banks stood at AED 300.5 billion at the end of the first quarter of this year with a growth of 12.5% ​​and an increase of 33.5 billion dirhams compared to 267.02 billion dirhams in the same quarter of 2017.
Loans received by the sector at the end of March represent about 20.3% of the total loans extended by the banking system to all economic activities in the country, which according to the latest figures issued by the Central Bank of the UAE 1.472 trillion dirhams.
The UAE continues to provide financing to the real estate and construction sector in line with the overall renaissance of the UAE, which is now ranked among the best countries in the world in terms of infrastructure and the availability of urban facilities that meet all the needs of residential and leisure tourism.
Statistics show that the total balance of funds received by the sector amounted to 267.02 billion dirhams in March of 2017 and then rose to 281.21 billion dirhams in July of the same year.
The total balance of funds reached 295.2 billion dirhams in September 2017 before rising again to 298.12 billion dirhams at the end of the year.
And then jump to 300.5 billion dirhams at the end of the first quarter of 2018.
It should be noted that real estate companies are among the most listed companies in the financial markets, a distribution of returns to the highest shareholders and shares are the most active in terms of transactions