(MENAFN)The Saudi Central Financial institution (SAMA)declared that, in November 2020, the overall worth of mortgage loans provided by Saudi banks reached to SR15.27 billion (USD4.07 billion), up 79 p.c compared with the identical interval in 2019.
Villa loans accounted for 81 p.c of the mortgages, whereas the overall quantity of contracts within the month was 30,017.
The big enchancment in command for mortgages is a part of the Saudi authorities”s objective to enhance residence possession within the Kingdom to 70 p.c as a part of the Imaginative and prescient 2030 targets, up from 50 p.c in 2018.
“The lending house within the Saudi banking sector has been rife with continued progress in mortgage financing all through the coronavirus illness (COVID-19) setting,” acknowledged Khalil Ibrahim Al-Sedais, workplace managing accomplice for KPMG in Riyadh.
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