Mubasher: The value of credit facilities offered by UAE banks to the construction and real estate sector increased by 5.54% or AED 13.9 billion in the fourth quarter of 2016 when compared to the same period a year ago, according to a recent statement issued by the Central Bank of the UAE.

The loans granted to this sector reached AED 264.7 billion by the end of December 2016 when compared to AED 250.8 billion by the end of the same month in 2015.

The UAE banks have granted 0.2% fewer loans to individuals for commercial purposes, with a total of AED 294.9 billion, the statement said.

Meanwhile, credit facilities granted to individuals for consumption purposes went up 0.2% to total AED 138.8 billion by the end of December 2016.