The property ... that righteous son!

Real estate loans are a vital economic tool that stimulates the market, reassures and stimulates growth, but small borrowers have a difficult and embarrassing experience that often ends in rejection or procrastination, which calls for other reasons to review banking services in a comprehensive manner similar to other vital sectors in the country, which began preparing for the post Corona contributes to stimulating the economy and accelerating development.

This coincides with reinforcing the concepts of the happiness of the customer, enhancing his satisfaction and improving his experience in a way that exceeds the expectations away from the broken bureaucracy, and in a way that stimulates the demand in a way that re-develops real estate and distinguished real estate offers for the market.

The comparisons between interest rates in which the financing offers should outperform the economic scene outside the country to move the stagnant water in real estate, for example, we find that our real estate financing options are limited and with a high profit margin, while in other countries the competitive profit rates for real estate loans and financing for many years have not been heard On his behalf, we have contributed in pushing the wheel of construction and development in the real estate and construction sector, and thus created an active and sustainable market with parallel financing concessions and competition that contributed to indirectly enhancing the profitability of the banking sector, through the construction sector and the industrial and economic facilities sector related to lower risks and economic cycles Shorter.

The dream of milk spilled in the 26 billion that we heard and read that it "went with the wind", and assuming that it was directed to housing loans or real estate development that indirectly supports the abundance of supply and the ability to purchase with affordable profits for relatively long periods, we saw a strong real estate sector pumping billions of transactions Finance in a sustainable manner and away from the crazy booms and growing bubbles, and an economic partnership model has emerged similar to what happened with a national housing program and a bank, but with a greater role for the banking sector and a smaller percentage of government financing. If we assume that the bank’s profit margin from real estate finance deducted and the advance payments decreased by more than 05%, and the duration of the financing doubled as a result of unprecedented real estate financing offers, this will be followed by an increase in demand and also a tremendous growth of this vital sector, and thus a tremendous investment door for commercial financing and a sustainable urban movement.

Many resident and even visiting families see in our country a homeland and a safety and security paradise with rational leadership and God’s valued national gains in it, even if we resorted to real estate statistical analysis or opinion questionnaires to monitor that most of those granted golden residency either invested or intend to invest in private housing or more , Which pushes us to appreciate the government’s tendency to grant longer residence stays in order to enhance stability for residents and develop real estate investment opportunities.

Also granting loans with "guaranteeing the origin of the property" and facilitating conditions such as down payment and fixed salary for visitors or residents of low income, and the committed customer with a distinguished credit record with the banks must be distinguished and granted higher and greater privileges from the banks.

It is hoped that, as soon as the conditions for obtaining real estate financing are modified to take into account a larger segment of the beneficiaries and their varying capabilities, the emergence of a real request will restore the property with its luster and the righteous son.

And because the real estate gets sick and does not die, the analysis of real estate financing options in the state and its global comparison, leads us to look forward to a partnership between the agencies involved in real estate regulation with the banks and the central bank, and the exaggerated land prices do not support growth in this sector.

A non-resident internal management consultant at the Emirates Center for Government Knowledge at the Mohammed bin Rashid School of Government.

To read the previous articles of the writer please click on its name.