Abu Dhabi Finance, a mortgage finance provider launched eight months ago, has emerged as one of the biggest lenders to home buyers in the capital, a top company official said.
'It is our belief that we are now in the top two or three mortgage lenders in Abu Dhabi,' said Philip Ward, the chief executive.
Between 20-25% of mortgages issued to home buyers in Abu Dhabi this year were from Abu Dhabi Finance, he said. The company received applications for Dh770m worth of mortgages, of which the company approved Dh600m, he said. The average mortgage size was Dh2.2m.