Housing Minister Majid Al-Hogail praised the Saudi Arabian Monetary Authority’s approval of reducing the down payment for mortgage financing to 10%, noting that this addresses the difficulties faced by citizens, Al-Hogail explained in a tweet on his Twitter account that the ministry is covering 100 % of the interest for those with an income of 14,000 riyals or less to increase citizens“ opportunities to own a home.

​​The Saudi Arabian Monetary Authority (SAMA) ”SAMA” had decided to increase the maximum mortgage financing ratio specified in Article (12) of the Executive Regulations of the Mortgage Financing System from (85%) to (90%) of the value of citizens’ first home.