New residential financing contracts provided to individuals. Banks accounted for 123,945 thousand contracts of the total contracts, while financing contracts provided by financing companies came with 2,411 contracts during this year.
The value of residential real estate financing provided by real estate financiers, whether banks or finance companies, recorded 126,356 contracts. According to the bulletin, the value of new housing finance provided to individuals by banks and finance companies during September amounted to 10,234 billion riyals for 13,183 contracts, where the total financing was distributed on 6,833 billion riyals for the purchase of villas and 2,985 billion riyals for the purchase of apartments, while the financing of land purchase contracts came on 416 million riyals, and the Saudi Central Bank report can be viewed by clicking here.
The report of the Saudi Central Bank can be viewed by clicking here. <It is noteworthy that the total financing provided by banks and finance companies during the past year 2021 amounted to 206 thousand contracts worth more than 156.3 billion riyals, while the year 2020 recorded a record growth equal to the total provided during the previous 4 years in the number of contracts, exceeding 295,590 contracts worth 140,7 billion riyals, and during 2019, real estate financing reached historical rates that exceeded 3.5 times what was provided in 2018, with 179,217 contracts worth 79.1 billion riyals, while financing loans by the end of 2018 amounted to 50,496 contracts worth 29.5 billion riyals, and in 2017 reached about 30,833 contracts worth 21 billion, and in 2016, 22,259 financing contracts worth 17 billion riyals were signed.
