Media ININ Economy We Trust
Media In / Riyadh May 29,
The monthly statistical bulletin of the most prominent economic indicators issued by the Saudi Monetary Agency (SAMA) revealed that the volume of residential mortgage loans provided by all financing institutions from commercial banks and retail companies for April 2019 continued to grow at the same pace since the second half of 2018, In the number of contracts, and about 135% in the volume of financing compared to April 2018, which was signed 4,286 financing contracts worth two billion and 700 million riyals.
According to Sama, the number of new residential mortgage contracts granted by banks and finance companies reached 14,398 contracts in April 2019 at a value of SR 6.419 billion, recording a 19% increase in the number of contracts and more than 15% in financing volume compared to March The total number of residential financing contracts reached 45,860 during 2019 with a total value of SR 31,528 billion so far.
This comes at a time when the “Housing” program of the Ministry of Housing, the middle of the month of the benefit of 14,728 families registered in the lists of the Ministry and the Fund for Real Estate Development, during the month of April, including 7,088 families lived in their homes, estimating the total number of families who benefited from the program options Diversified since the beginning of the year with 54,965 families in different regions of the Kingdom.
A total of 94% of the total contracts for April were made through commercial banks, 6% were through mortgage companies, and the number of contracts for products supported by housing programs in April 2019 was 11,937, (Rls 4,92 billion). In March 2019, it recorded about Rls 4.4 billion, representing 10,364 financing contracts, recording a 12% increase in the value of contracts supported and about 15% in the number of subsidized financing contracts within one month.
