“Saudi banks sold a record $12.45 billion of new mortgages in the first quarter of 2021, according to central bank data, up from $11.44 billion in the preceding three months and from $8.32 billion in the prior-year period. Banks account for more than 60% of the country’s mortgage market share, according to an Al Rajhi Capital report.”
–Matt Smith reporting for S&P Global on Saudi Real Estate Refinance Co.’s projections to double or triple its balance sheet and begin issuing mortgage-backed securities in 2021 as a domestic home loan boom shows little sign of easing. [S&P Global]
