Dubai bank offers 90% finance for property in Dubai

A Dubai institution is bucking the worldwide trend by offering up to 90 per cent finance for people buying real estate in the United Arab Emirates (UAE), it has emerged.

The Dubai Islamic Bank (DIB) says it has brought in the offer in an attempt to allow potential investors to purchase their "dream home".

Dr Adnan Chilwan, chief of retail and business banking at the DIB, says buyers are looking for easy home financing solutions.

"The security of owning a home in the UAE provides great comfort to our customers," he comments.

Mr Chilwan adds that the high finance to value ratio and range of products to suit every need will encourage potential investors in property in Dubai to take advantage of the opportunity.

In related news, Sajeer Babu, an equity analyst at the National Bank of Abu Dhabi, recently said the cost of real estate in the UAE is likely to return to normal levels by 2011, which may offer a long-term investment opportunity.