Sharia-compliant house financing will make up 60 per cent of the UAE's Dh64 billion ($17.43 billion) mortgage market over the next three years, a study said.

The UAE's mortgage market is expected to reach Dh20 billion by the end of this year, said Bonyan International Investment Group, quoting the study.

Bonyan International Investment Group, one of the leading real estate companies in Dubai, said it aims to capitalise on this booming property investment sector and leverage a favourable investment climate in the country by launching more projects that offer high and quick return on investment (ROI) to its growing number of regional and global clients.

Bonyan said that as one of the fastest growing GCC economies, the UAE is perceived by global investors as the best market for capital gains growth because of its pioneering move to allow foreigners to invest in local property.

It said the move has created outstanding opportunities for world-class developers such as Bonyan to attract investors to the country.

“Our plan of action in relation to the uptrend in the UAE’s mortgage market will be to expand our portfolio of high return and low risk projects by investing further into developing innovative concepts and forging strategic partnerships,” said Abdullah Atatreh, chairman, Bonyan International Investment Group.

'With the favourable market scenario driving high returns on investment, our aim is to surpass the industry standard rates and offer the highest profits for our clients.'

The Bonyan Group is currently undertaking regional projects and enhancing its full suite of integrated and research-based services to expand its project portfolio to Dh15 billion in three years.

Among its latest successes is the sales turnout of the Dh3.5 billion ‘Eye of Ajman’ community development and the recent sell out of its Dh5 billion 'Sama Al Jaddaf' project.

'Although we are seeing tremendous growth across the entire UAE market, we believe that we have yet to tap into its full potential and that we will be seeing further massive turnovers in the property investment sector.

'Our experience as an established developer in Dubai will continue to give us a strong leverage, and we pledge our commitment to perpetually meet our clients’ and investors expectations with regard to deadlines and construction standards in line with our core values of trust, commitment, and high return on investment,' said Atatreh.
 
Bonyan has pioneered one of the first towers for long-term lease in Sharjah and was responsible for building a number of luxury residential and high profile commercial developments in the UAE, Qatar and Lebanon.

To date, Bonyan has developed Dh3 billion worth of residential and commercial developments in Dubai, including Rose Tower and Lulu Tower. - TradeArabia News Service