Hawazen Esber, CEO of Majid Al Futtaim Development Company, said that the real estate market activity in the United Arab Emirates contributed to the company achieving good results in the first quarter of 2023, without mentioning its size.
In an interview with CNN Economics, Esper reduced the negative effects of the rise in US interest rates on the real estate market in the region, “We did not see any negative effects, but there will be adjustments to interest rates on real estate loans.”
He added, “Most likely, there will be more harmony with the global markets regarding the interest period, which in the UAE may reach fifteen years instead of five, seven or ten years.”
2023-06-09 07:09:32
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