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Saudi home loans almost double amid new law impetus

Posted on 04 September 2012

Saudi Arabian home lending grew at the fastest pace in at least four years in the second quarter, evidence that banks in the largest Arab economy are more willing to take risk as the nation’s mortgage law comes into effect.
Mortgage lending jumped 83 per cent to 48 billion riyals (Dh47 billion) from the year-earlier period, the highest on record according to central bank data. In the United Arab Emirates, home loans by banks grew less than one per cent in the year to March, while credit to Qatar’s real estate industry rose 34 per cent in the second quarter, central bank data show…………………………………………Full Article: Source

 
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