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Saudi total real estate market financing to hit SR60bln in 2012

Posted on 22 October 2012

Saudi total real estate market financing is forecast to reach SR60 billion in 2012 as total real estate lending grew by SR17 billion during the second quarter of 2012 alone, the National Commercial Bank (NCB) said in its October Saudi Economic Review”. The report said, according to SAMA, the total real estate financing by local banks reached SR29.3billion in 2011.
The residential lending market in the Kingdom overwhelmingly consists of loans by commercial banks, however, the mortgage market, upon the implementation of the mortgage law, has the potential to attract non-bank lenders to this market………………………………………..Full Article: Source


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