🔸️ Year-on-Year Growth and Support for Saudi Vision 2030
This significant increase marks a year-on-year growth of 12.8%, representing an increase of about SAR 84.517 billion (USD 22.54 billion) compared to the SAR 662.685 billion (USD 176.72 billion) recorded at the end of the same period in 2022. This data, released in the Saudi Central Bank’s monthly statistical bulletin for November 2023, supports the growth trajectory of the Saudi real estate sector and contributes to achieving the goals and initiatives of Saudi Vision 2030.
🔸️ Individual vs. Corporate Lending Breakdown
The loans provided to individuals constituted about 79.2% of the total, amounting to nearly SAR 591.700 billion (USD 157.79 billion). On the other hand, the loans granted to companies were around SAR 155.502 billion (USD 41.47 billion), representing approximately 20.8% of the total.
🔸️ Quarterly Growth in Real Estate Loans
The real estate loans provided by the banks also recorded a quarterly growth of 2.2%, with an increase of approximately SAR 15.924 billion (USD 4.25 billion) compared to the end of the second quarter of 2023, which stood at SAR 731.279 billion (USD 195.01 billion).
🔸️ Annual Comparison
It is noteworthy that the total real estate loans provided by commercial banks to individuals and companies were at the level of SAR 687.833 billion (USD 183.42 billion) at the end of 2022.
