First Property Foreclosure ( repossession ) hearing as gone in favour of Barclays Bank Plc, the first of its Kind it has been reported that Barclays have taken action in the courts of the Dubai, to take back properties that have had defaulted on mortgage payments. A common practice worldwide due to the massive growth in the Real estate market in the UAE over the last five years it as not been necessary or any cases of defaulted payments now that the property market as halved since the peak of the Summer of 2008 many home owners are now in negative equity so driving the need for property foreclosures.

Now many mortgage companies and banks may go down this method in order to return their security.