Emirates NDB contemplates moves to attract investors

27/07/2011 - Dubai Property News Posted by Neil King
Emirates NDB contemplates moves to attract investors
Property investors tempted to purchase properties in Dubai could be among those encouraged by forthcoming plans from Emirates NBD.The bank is considering launching a new mortgage product designed to attract an increased amount of foreign investment, Arabian Business reported.It comes after the UAE government announced plans to extend property visas for up to three years.Rich Pudner, chief executive officer of Emirates NBD, commented: "Obviously the change in the six months to three years visa has made a positive impact on the property market. "Looking at that going forward, from the point of view of completed properties, yes we are looking to revise our mortgage offering continually to make sure we are competitive."Meanwhile, a recent Reuters report indicated that residential property prices in Dubai will fall by another ten per cent before they reach bottom as supply levels are too high.