Saudi Arabia Mortgage Law

Nov. 21, 2010 - PRLog -- Saudi Mortgage Law

The Saudi Real Estate Market is eagerly waiting for the real estate approval and implementation of mortgage law in Saudi Arabia, the mortgage law which has been in planning for pas years was supposed to have been implemented last year but delay accrued after rejection by the Saudi Cabinet and sent back to the Shura Council
The Delay is bad news for corporate-funded banks as some Banks set up loan strategy implementation for the third quarter of 2010.
The young Saudi generation between the ages of age 25 to age 35 and who represent the largest segment in the Saudi society and mostly don't Owen homes are the primary customers.
the Council of Ministers are legitimate concerns on the impact of the mortgage on the economy and inflation in the outgoing, especially when we see what happened in many countries that rushed facilities for lending and its immediate aftermath of the collapse.
To be sure, adoption of the mortgage will raise the demand for real estate by 1.2 Million unit for the next five years with the expectations volume of investment up to 30 billion Saudi Riyals.
Different from the real estate 80s boom at the beginning of the previous Government Bank's lending on real estate is strong Saudi foundation of raw and primary materials industry for Reconstruction and Development companies such as cement, steel, glass factories. porcelain. cables which will generate ransom profit from the expected boom that will lead to increase on those companies shares in the Saudi stock market

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