The Business Year s 10th Anniversary in Saudi Arabia thebusinessyear.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thebusinessyear.com Daily Mail and Mail on Sunday newspapers.
Saudi Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail revealed on Monday that the banks’ contribution to real estate loans has reached over $173.3 billion, while the number of state-backed loans has reached about 750,000 contracts. Speaking at opening the third edition of the 2024 Real Estate Future Forum in Riyadh, Al-Hogail stated that real estate activities’ contribution to the non-oil GDP reached 12.2% until the third quarter of 2023. The rate of the construction sector reached 11.3% during the same period.
Leading Saudi policymakers, financial regulators, bankers, businesses and private capital groups from the region and across the globe will be at the Saudi Housing Finance Conference, a key industry event which opens this week in the capital Riyadh.