Dubai banks suspend lending to real estate employees

a number of banks in dubai have suspended lending to expatriate employees of leading real estate companies amidst fears of large-scale layoffs in the property market, gulf news has reported. emirates nbd, the region's largest lender, has suspended retail credit facilities to expatriate employees working with a few real estate firms due to possible restructuring. the bank has suspended banking services to employees of a dozen companies such as tamweel, amlak, damac and its subsidiaries, daman investments psc, emaar, nakheel, sama dubai, dubai properties, union properties and km properties.