The real estate loans provided by commercial banks in Saudi Arabia increased by 15% by the end of the fourth quarter of 2024, reaching SR883.3 billion, compared to SR767.3 billion during the same period in 2023, according to updated data released by the Saudi Central Bank (SAMA).
The value of real estate loans
Mortgage loans provided by commercial banks in Saudi Arabia increased by 15% by the end of the fourth quarter of 2024, to reach SR883.3 billion, compared to the same period in 2023. The value of real estate loans granted to individuals, which constitute 77% of total real estate loans, increased by 12% to reach SAR 681.2 billion by the end of Q4 2024, compared to the same period of the previous year.
The value of real estate loans increased by 12% to reach SAR 681.2 billion by the end of Q4 2024, compared to the same period of the previous year. real estate loans directed to companies saw more pronounced growth, rising by 26% to reach 202 billion riyals by the end of Q4 2024, compared to the same period in 2023.
The report noted that the share of real estate loans to companies increased by 12% to reach 681.2 billion riyals by the end of Q4 2024, compared to the same period in the previous year. <In a related context, the SAMA report indicated that consumer loans increased by 7% to reach 471 billion riyals by the end of Q4 2024, compared to the same period of the previous year. Consumer loans include various financing, such as real estate renovation and improvement, car and personal transportation loans, in addition to loans for education, health, tourism, travel, furniture, and durable goods.
Credit card loans also witnessed a significant increase of 16%, reaching 31.4 billion riyals by the end of Q4 2024, compared to the same period in 2023, reflecting the increased demand for consumer finance in the Kingdom.
Credit card loans include loans for education, health, tourism, travel, furniture, and durable goods.
