The increasing and sustained interest in Islamic housing finance and the success of many young and established institutions across the Middle East and North Africa (Mena) region was highlighted during a housing finance forum.
The Mena Housing Finance Forum was organised by the Arab Monetary Fund and the World Bank.
“The Islamic mortgage finance industry is receptive to the changing needs of buyers and the GCC’s evolving market conditions,” said Sakana Holistic Housing Solutions chief executive R Lakshmanan, who was a guest speaker at the event.
“It is clear that in a competitive property market, we have to offer a comprehensive portfolio of flexible Sharia-compliant instruments perfectly suited to today’s dynamic situation and the increasingly financially sophisticated consumer.”
He talked about how Islamic finance instruments can assist buyers across the spectrum of property purchases from ready property, to ones under construction or yet to be constructed, whether it is to be used as a home, business or investment.
It was made clear during the conference that the GCC real estate sector is changing dramatically and rapidly and that financiers must keep abreast of the trends and offer the appropriate services and products.