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Asharq Al-Awsat

Business

Riyadh - Asharq Al-Awsat

Saudi Real Estate Financing Registers 130% Growth

The second edition of the Real Estate Future Forum is currently held in Riyadh. (Asharq Al-Awsat)

Statistics released on Tuesday showed that the real estate financing for individuals in Saudi Arabia accounted for more than 674 billion riyals ($197 billion) during the period extending from January to November 2022, achieving a record high of 130 percent, compared to the transformation phase in 2017, when it amounted to 287 billion riyals ($76.5 billion).

In this regard, Mansour bin Madi, CEO of the Real Estate Development Fund (REDF), pointed to a major shift and development in the country’s finance sector.

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