New real estate loans provided to individuals by all financing institutions from commercial banks and financing companies until November 2019 amounted to 155,893 contracts with a total value of more than 69 billion riyals, according to the monthly statistical bulletin issued by the Saudi Arabian Monetary Agency (SAMA). Residential loans recorded a growth rate of 254% in the number of loans and about 167% in their volume during 2019 compared to the same period in 2018, which recorded the signing of 44,021 contracts with a value of about 26 billion riyals.

20,525 financing contracts in November

While the number of new real estate loans in November amounted to 20,525 contracts, an increase of 13 thousand contracts compared to the same period last year, which recorded the signing of 6720 contracts. The volume of financing in November 2019 grew by 154% year-on-year with a value of more than 9 billion riyals compared to 3,563 billion riyals in November 2018, an increase of more than 5.5 billion riyals, or about 205%.

94 % of the value of financing contracts from commercial banks

According to the report, about 94% of the value of new mortgage contracts for individuals this month was concluded by commercial banks, while about 6% was concluded by mortgage companies. The statistics also indicate that the number of contracts for subsidized products through government housing programs accounted in November 2019 for about 93% of the total number of contracts concluded by real estate financiers from banks and companies with about 19.015 thousand contracts with a total value of 8.3 billion riyals, about 91% of the value of financing during November 2019.

80% of financing volume for residential villas

Residential villas in November accounted for the largest proportion of financing with 7,192 billion riyals or about 80% of the total volume of financing provided by banks and financing companies, while residential apartments ranked second with more than 14% with a value of 1.3 billion riyals, while financing the purchase of residential land came in third place with 6% worth 546 million riyals.

Official statistics of the Corporation showed that the total number of residential mortgage contracts provided to individuals by the end of 2018 amounted to about 50,496 contracts with a total value of about 29.5 billion riyals, and in 2017 about 30,833 contracts worth 21,025 billion riyals, while 2016 witnessed the signing of about 22,259 financing contracts worth 17,096 billion riyals.

Some links to news and reports from Amlak Real Estate Newspaper Issue 187

Mortgage Loans - Real Estate Projects - Investment Opportunities - Licenses

Real Estate Finance - Aramco Stocks - Building & Construction - Real Estate Loans

Editor-in-Chief Abdulaziz Al-Issa explains the story behind Amlak Real Estate's logo

Minister of Trade and Investment allocates land in Riyadh, Jeddah and Sharqiya to establish international exhibition and conference centers

Administrative Judiciary Council decides to amend the wording of the project to consider grievances against real estate expropriation decisions

“Tourism Authority” enumerates the advantages of the National Tourism Monitoring Platform at the Riyadh Chamber

Public Authority for Real Estate inaugurates its new headquarters and discusses the latest developments of the real estate registration projects, real estate brokerage, and real estate contributions

Residential platform receives more than 15 million visits, including 702 thousand downloads of the application

The Kingdom's transportation sector jumps to first place in the world in terms of ease of doing business

Al Rajhi REIT acquires educational properties with a purchase value of 210 million riyals

Malakia Investment Company acquires Riyadh hotel apartments worth 50 million riyals

Saudi Arabian Business Magazine recognizes Riyad Bank as “Fastest Growing Bank in 2019”

Ejar program closes 2019 with 570,000 leases and 48,000 inspections

Minister of Housing calls on the private sector to support the Good Housing Initiative

Mortgage Loans

Minister of Housing during the budget program: 14 billion riyals for the building technology incentive program and support for Saudi construction factories

Minister of Housing during the budget program: We exceeded the 2019 targets. "Completion" approved 99 plans. The owners“ association system will be issued soon

Majid Al-Haqeel: 1.8 billion riyals of white land fees to be pumped into infrastructure projects in the housing sector

Al Rajhi Bank concludes "Corporate Credit Risk Management Program“

Ministry of Finance Signs Agreement with Saudi Investment Bank to Develop Covenant Disbursement Method

CMA approves 30% shares of Amlak International Real Estate Finance

Enmaa Bank Passes Global Business Continuity Benchmark

Reports expect 1.22 million homes to be financed during Vision 2030

Analysis. Saudi REITs are positive for 9 months

Analysis

As of the end of November 2019, more than 69 billion riyals worth of mortgage loans to individuals from financial institutions

Shura Council calls on Kafalah to develop financing incentives to encourage investment in industry, technology and services

Public Pension Corporation intends to develop and invest 100 thousand square meters. In agreement with Riyad Capital

UNDP provides technical support for "Development Housing“ initiatives

Rusaifa Jewel Housing Project on schedule

12 banks and 5 finance companies shortened the mortgage journey

Housing program offers its services to employees of the Ministries of "Trade“ and ”Municipality and Rural Development"

Mortgage Loans