Saudi Arabia's $32 Billion Bid to Build Private Mortgage Market - Bloomberg

Saudi Arabia's $32 Billion Bid to Build Private Mortgage Market - Bloomberg:

"Saudi Arabia plans to spend 120 billion riyals ($32 billion) on subsidized home loans for borrowers, as it seeks to create conditions for an expanded private-sector role in a mortgage market dominated by the government.

The kingdom’s new housing program, announced on Monday, also includes an 18 billion riyal loan-guarantee program to boost access to funding, and 12.5 billion riyals to support home down-payments, all to be spent through 2030, Housing Minister Majed Alhogail said in an interview.

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