ABU DHABI, 7th June, 2018 (WAM) -- Up to AED300.5 billion in bank credit facilities was provided to the realty and construction sector in the UAE by the end of Q1 2018, a growth of 12.5 percent of from AED267.02 billion in the same period in 2017.
Loans obtained by the sector by the end of March account for around 20.3 percent of the total lending provided by UAE banks to all economic platforms in the country, which amount to AED1.472 trillion according to statistics recently issued by CBUAE.
The lending growth echoes the all-embracing renaissance witnessed by the UAE which is now classified among the world's best-run countries in terms of infrastructure and urban development
According to official figures, the total credit got by the sector hit AED281.21 billion by July 2017, growing to AED295.2 billion in September, and to AED298.12 billion by the end of the year, before surging to AED300.5 billion by the end of Q1 this year.
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