UAE – Complaint about maximum limit in real estate
Thursday, 04 06 2017, Category: Insurance and Reinsurance, Country: U.A.E
Insurance managers and experts of insurance companies operating in the United Arab Emirates requested the “Insurance Authority” to extend the deadline of the implementation of investment criteria applying to real estate investments that are scheduled for the end of the current year.
They clarified to “Al Khaleej” newspaper that applying the new regulations will limit real estate investments to a maximum of 30%, which will harm insurance companies and the real estate market indicating that most insurance companies have more than 40% of investments in real estate. This will lead them to sell their properties.