Official statistics reveal that the number of properties registered with Saudi courts as collateral for debts reached approximately 7,221 during the past 8 months of the current Hijri year.

Sources said that banks and companies registered 70% of these mortgaged properties as a result of borrowers taking out loans from them.

They noted that the courts in the Riyadh region recorded the highest number at 40 %, with 2,900 mortgaged properties, followed by the Makkah region with 1,500 properties, and then the Eastern Province with 1,105 properties.