SAMA says housing loans reached SAR 125 bln in Q1 2018

Saudi Arabia’s residential loans portfolio amounted to SAR 125 billion by the end of the first quarter of 2018, said Ahmed Alkholifey, governor of the Saudi Arabian Monetary Authority (SAMA).

Banks entered partnerships with the housing ministry and the Real Estate Development Fund (REDF) in a number of projects aiming to expand home ownership in the Kingdom, he said.

This helped accelerate getting access to finance with facilitated terms and conditions, he added on Wednesday during an event held by Samba Financial Group to deliver 100 units to families in need, as part of a 500-unit project.