Saudi council wants ceiling on housing loans raised
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Saudi council wants ceiling on housing loans raised

Saudi council wants ceiling on housing loans raised

The Saudi Shoura Council has recommended raising the ceiling on housing loans offered by the Real Estate Development Fund from the present SR300,000 in view of the rising cost of construction and land prices, Arab News has reported. The council said that the loan scheme should be formulated by the REDF with the active participation of the private sector, including commercial banks in the kingdom. The kingdom needs 300,000 residential units every year over the next 15 years.

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    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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