Majid Al-Hogail, Minister of Municipal and Rural Affairs and Housing. <During his participation in Budget Forum 2022 last Monday, Al-Hogail explained that the maturity of the financing system also resulted in the efficiency of financing, as the financing ratio was 7.6% in 2019, and reached 4.5% currently with the calculation of the profit margin for banks, where the margin ratio for banks decreased from 3. 92% to 1.62%.Al-Haqeel praised the role of the Saudi Refinancing Company, which purchased more than 27 billion riyals of the value of portfolios and returned 13 billion riyals to the sector to maintain liquidity in the financing market.
Haqeel praised the role of the Saudi Refinancing Company, which purchased more than 27 billion riyals of the value of portfolios and returned 13 billion riyals to the sector in order to maintain liquidity in the financing market.
Haqeel Al-Haqeel confirmed the ministry's intention to pump 300 thousand housing units expected to be built during the next five years in partnership with the private sector, including 147 thousand units in Riyadh, pointing out that 210 thousand Saudi families benefited from the residential program during the current year, of which 166 thousand families lived in their homes, indicating that the housing program has reached to serve more than 1.1 million Saudi families.
.
