|
|
Article: Middle East mortgages: the Persian Gulf; This second part of a two-part article about the emergence of thriving mortgage markets in the Middle East documents a surge in demand for mortgages in the region.(International)
- Article from:
- Mortgage Banking
- Article date:
- September 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 Mortgage Bankers Association of America. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
While the rest of the Middle East sorts out the finer points of the home-financing instrument known as a mortgage, the development-mad lands of the Persian Gulf have adopted the lending practice as if early desert dwellers along Dubai Creek always lived in suburban manses instead of rudimentary shelters. [??] In the 1950s, the small kingdom of Dubai counted about 10,000 residents who constructed small homes along an estuary of the Persian Gulf. Fifty years later, and now part of the United Arab Emirates (UAE), the oil-rich city boasts a population of about 1.5 million. But it's hard to get a real grip on how many people live there, as more and more immigrants flood in ...
Related newspaper, magazine, and journal articles:
|