Increase in Real Estate Financing in December 2024

The Real Estate Development Fund announced a 44% increase in real estate financing in December 2024, reaching SAR 9.4 billion, compared to SAR 6.5 billion in December 2023, an increase of SAR 2.85 billion. According to the Saudi Press Agency, the number of financing contracts increased by approximately 52% in December 2024 compared to the same period in 2023.

The Fund noted that the volume of real estate financing for beneficiaries of housing support programs increased by 16.4% during 2024, reaching SAR 62.9 billion compared to SAR 54 billion in the previous year. December was the highest month for financing in 2024, with SAR 9.38 billion, funding approximately 12,340 contracts.

The total real estate financing for beneficiaries of housing support programs in 2024 amounted to SAR 62.9 billion, contributing to the financing of 89,000 contracts compared to 74,000 contracts in 2023, an increase of 15,000 contracts, representing a 20% increase.

The Fund indicated that the share of self-construction products from the total real estate financing directed to beneficiaries of housing support programs was 14%, while the share of under-construction housing units was 29%, and the share of ready housing units was 57%.