In a move to boost buyers’ confidence in Abu Dhabi, the Tourism Development and Investment Company today announced agreements with four banks and a finance company to provide mortgage financing for buyers.

Lee Tabler, the chief executive of TDIC, said the agreements would “demonstrate that, despite the current financial climate, Abu Dhabi is still a viable and attractive investment opportunity”.

The offerings are more generous than those being offered by most banks. Lending to property buyers has been cut back dramatically as a result of the slowdown in the property sector.

The National