Saudi SAMA: Mortgages loans reached 208,505 contracts until Q3 of 2020

Saudi SAMA: Mortgages loans reached 208,505 contracts until Q3 of 2020

RIYADH — Residential new mortgage loans for individuals reached 208,505 contracts, valued more than 96.7 billion, provided by all real estate financing institutions and banks, until the third quarter 2020.According to the monthly report issued by The Saudi Arabian Monetary Authority "SAMA", they registered a growth of 90% in the number of loans and about 84% in loans compared to the same quarters of 2019.The report announced that mortgage loans in September 2020 recorded the highest historical number with 27,889 contracts by increase 66%. Housing loans last month worth SR 13.3 billion with 87% grow comparing to September 2019, that recorded 16,812 contracts with a value of 7.1 billion. September mortgage loans also increased by 26% and 32% in value from the previous month, August 2020. "SAMA" report indicates that