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Real Estate Briefing - Categorized | Middle East and Africa, Mortgage, Regulatory more

Saudi Arabia approves mortgage law

Posted on 03 July 2012

Saudi Arabia has approved a draft law allowing mortgages to be sold in the kingdom, the state news agency said on Monday. “It should help address one of the critical social issues in the kingdom - housing,” James Reeve, senior economist at Samba Financial Group, said.
Housing has long been an issue in a fast-growing country of 27 million people, most of whom are under the age of 30, with a lack of low- and medium-cost housing compounded by limited finance options to help bridge the gap to home ownership………………………………………..Full Article: Source


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