Tamweel Residential villas accounted for the largest share of total bank loans issued last October, amounting to 4.46 billion riyals and representing 66%, while residential apartments ranked second at 1.94 billion riyals, followed by land at 367 million riyals in third place.

Data from the Saudi Central Bank “SAMA,” revealed that the value of new residential mortgage financing rose by approximately 929 million riyals, or 16%, compared to the previous month of September, The data also revealed a decline in the volume of new residential mortgage financing provided by banks to individuals to 6.77 billion riyals during October, a decrease of 28% compared to the same period in 2022, while the number of contracts stood at 9.18 thousand, a decrease of 26% from the same period last year.

Financing Residential Villas