Making Of A Real Estate Boom In Saudi Arabia

alifarabia | August 21, 2011 | Saudi Arabia | No Comments

Saudi Arabia’s housing sector is only just warming up but the profits of listed Saudi companies show the sector’s immense potential. If only the authorities would pass the mortgage law.

Profits of Saudi property managers listed on the Tadawul index rose 30% year-on-year and quarter-on-quarter. Income rose SR465-million in the second quarter, compared to SR347million during the same period last year, buoyed by a surge in real estate loans in the past three quarters, rising 20 to 30% year-on-year. READ MORE HERE

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