Mortgage finance companies operating within the Saudi real estate sector extended approximately 15 billion riyals in real estate loans to individuals and businesses during the first nine months of last year, an increase of 81% from the previous year, when loans totaled 13.908 billion riyals by the end of 2015, representing an 81% increase.

Individual Loans

The individual sector accounted for 85.5% of the total loans disbursed, amounting to 12.834 billion riyals at the end of the first nine months of 2016, achieving a growth rate of 7.5%, with a value of 892 million riyals. Compared to 11.942 billion riyals at the end of 2015.

Corporate Loans

In contrast, the corporate sector accounted for approximately 14 percent of total mortgage loans issued, with a value of 2.174 billion riyals, achieving growth of approximately 10.6 percent during the first nine months of 2016, equivalent to only about 208 million riyals, compared to 1.966 billion riyals at the end of 2015.

It is worth noting that loans provided by mortgage finance companies stood at 6.480 billion riyals by the end of 2011, with the retail sector accounting for 5.772 billion riyals and the corporate sector for 708 million riyals.