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Delay in mortgage law stalling Saudi market

Posted on 26 August 2009

From Business24-7.ae: The mortgage market in Saudi Arabia continues to be limited due to the delay in passing of the new mortgage law, said a report.

“Finance options are still largely unavailable due to a price sensitive population. There has been significant economic ‘trickle down’ to the local population, but although the mid-income sector now has resources to buy accommodation, it continues to be frustrated by a lack of available land and mortgage finance,” CB Richard Ellis said in a market view report on Saudi Arabia’s residential market………….Full Article: Source

 
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