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Saudi residential financing nears $1.6 bln

Posted on 07 November 2012

Although there are no clear government regulations yet on mortgage lending in Saudi Arabia, local banks have been offering residential financing to their best customers.
So much so that total financing for residential properties in 2012 could reach $1.6 billion (SR 60 billion), according to sources in Jeddah and the National Commercial Bank (NCB). Total real estate financing by local banks reached SR29.3billion in 2011, according to the Saudi Arabian Monetary Agency (SAMA)………………………………………..Full Article: Source


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