<body><script type="text/javascript"> function setAttributeOnload(object, attribute, val) { if(window.addEventListener) { window.addEventListener('load', function(){ object[attribute] = val; }, false); } else { window.attachEvent('onload', function(){ object[attribute] = val; }); } } </script> <div id="navbar-iframe-container"></div> <script type="text/javascript" src="https://apis.google.com/js/plusone.js"></script> <script type="text/javascript"> gapi.load("gapi.iframes:gapi.iframes.style.bubble", function() { if (gapi.iframes && gapi.iframes.getContext) { gapi.iframes.getContext().openChild({ url: 'https://www.blogger.com/navbar.g?targetBlogID\x3d32569479\x26blogName\x3dBusIneSS+WHIZZards\x27+Dubai\x26publishMode\x3dPUBLISH_MODE_BLOGSPOT\x26navbarType\x3dBLUE\x26layoutType\x3dCLASSIC\x26searchRoot\x3dhttp://bizzwhizzdubai.blogspot.com/search\x26blogLocale\x3den_US\x26v\x3d2\x26homepageUrl\x3dhttp://bizzwhizzdubai.blogspot.com/\x26vt\x3d-3078903150650557799', where: document.getElementById("navbar-iframe-container"), id: "navbar-iframe" }); } }); </script>

Moody's sees Real Estate downturn risk in Dubai and UAE

There is a risk of "short-term real estate downturn" in the UAE that could affect ratings outlook of local institutions, a Moody's official said. Banks in the UAE have high levels of exposure to the real estate sector and a correction in property prices would adversely affect them.

"A downturn in the real estate market would be the most pertinent shot-term risk," said Tristan Cooper, senior analyst at the sovereign risk unit of Moody's Investors Service.

But the UAE economy "could absorb quite a strong shock" because of the country's healthy public finance situation and a large current account surplus, Cooper said, indicating that the prospects for the UAE sovereign ratings upgrade remain favourable. Moody's has opened an office in the Dubai International Financial Centre (DIFC).


Post a Comment

<< Home

Join the whizzards Group

be whizzD In From Today

Web This Blog


Previous Posts