Saudi Central Bank (SAMA) data and statistics revealed that residential mortgage financing by the end of the first quarter of 2024 reached SAR 800 billion, up from the same quarter of the previous year by nearly SAR 95 billion.

The monthly bulletin figures showed that new residential mortgage financing granted to individuals and companies from banks in the Kingdom rose in the first quarter of 2024 to SAR 800 billion.

The figures of the monthly bulletin showed that new residential real estate financing granted to individuals and companies from banks in the Kingdom increased in the first quarter of 2024 to 33.1 billion riyals, compared to 18 billion riyals in the corresponding quarter of 2023, with a growth rate of 4.3% from the previous quarter, and compared to the same quarter of the previous year, financing increased by about 13%.

<The bulletin indicated that the proportion of mortgage loans provided to individuals is estimated at 78%. Real estate loans provided to companies are estimated at 22% of the total loans