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Business

UAE to launch new mortgage company despite gloomy prospect of property market
Nov 27, 2008 04:00
Five large companies in Abu Dhabi, capital of the United Arab Emirates UAE, will launch a joint-venture mortgage company despite a gloomy prospect of the country's property market due to the global financial crisis, local newspaper The National reported on Wednesday. With capital of 500 million dirhams 136 million U.S. dollars, the new mortgage company named "Abu Dhabi Finance" is a joint venture between Mubadala Development, Abu Dhabi Commercial Bank, Aldar Properties, Sorouh Real E ...


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