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Gulf Property Crash Drives Shariah Loans to Five-Year Low

By Implode-Explode Heavy Industries

"Islamic syndicated loans declined 40 percent to $2.2 billion, compared with a 5 percent drop in total lending to $304 billion, according to data compiled by Bloomberg. Real-estate prices have dropped 50 percent in the United Arab Emirates from their peak in August 2008, according to estimates from Colliers International."

Full post as published by Mortgage Lender Implode-o-Meter on July 05, 2010 (boomark / email).