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A total of 155,893 mortgage loans worth SAR 69 billion were offered in Saudi Arabia by all financing institutions in 2019 up to November, figures from the Saudi Arabian Monetary Authority (SAMA) showed.
Housing loans jumped 254% in terms of number and 167% in terms of volume compared to the same period last year.
The monthly bulletin by the authority showed that newly signed mortgages were up 13,000 to 20,525 in November compared to the 2018 period. Financing also grew by 154% in November on a year-on-year basis, reaching SAR 9 billion.
A majority of 94% of new mortgage deals were arranged through commercial banks with the remaining 6% concluded through financing companies.
Residential villas received the largest portion of funding at SAR 7.2 billion whilst residential apartments came in second with SAR 1.3 billion, followed by residential lands at SAR 546 million.
Cavendish Maxwell is the MENA region’s leading firm of property consultants and chartered surveyors. If you are looking for professional real estate consultation or advice on property related matters, please view our services.
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ACCEPTxSiddhi Sainani
Content and Communications Manager
Siddhi Sainani is a business and finance writer and a public relations professional with experience across markets in the UAE, Oman, India and the United States.
At Cavendish Maxwell, Siddhi is responsible for crafting research and marketing communications material for the firm’s various stakeholders including clients and government entities. She also leads the public relations activities for the firm, focusing on media outreach, reputation management and spokesperson profiling.
In her previous roles, Siddhi has reported on the financial markets for news outlets, developed institutional research for several institutions, and undertaken corporate communications initiatives for leading firms across sectors such as real estate, finance, banking, audit and advisory, and technology, among others.
Siddhi has a Bachelor of Mass Media degree with a specialisation in journalism and also holds a Post-Graduate Diploma in Integrated Communications covering advertising, marketing and public relations from Xavier Institute of Communications, Mumbai, India.
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Sarah-Jane Carter
BA (Hons) DipM
Head of Marketing
Sarah-Jane joined Cavendish Maxwell in January 2020 as Head of Marketing and is responsible for the development of the marketing strategy and execution across the Middle East region. An energetic and results driven marketer, Sarah-Jane possesses a wealth of multi-channel marketing experience, within both B2B and B2C environments which she has gained over a 25 year career. Prior to joining Cavendish Maxwell, Sarah-Jane held senior marketing positions for major developers in Dubai including Emaar, Dubai Properties and Dubai Sports City. She also worked for IWG as the Regional Marketing Director responsible for the MEA and APAC regions. Before relocating to the UAE in 2005, Sarah-Jane held various management roles in public and private sector companies in the UK including ten years at Royal Mail and seven years at the Bank of America.
Sarah-Jane is a member of the Chartered Institute of Marketing and has a BA(Hons) Degree in Business and Marketing
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