11.03.2013 - Saudi property market to be opened up to foreign lenders
The residential property market in Saudi Arabia is set to be transformed with the country’s central bank allowing foreign companies to provide mortgages, it is claimed. There is huge demand for homes in the country but until now getting funding has been difficult. Now a draft law approved last year is set to open up the market. According to rating agency Standard & Poor’s the new legislation will transform home financing and overall the lending market is set to grow substantially...............................................Full Article: Source
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