Saudi banks’ real estate lending grows to $161bn in Q1

RIYADH: Saudi banks’ real estate lending witnessed a year-on-year increase of SR131 billion ($34.9 billion) to SR605.5 billion in the first quarter of 2022, from SR474.5 during the same period last year, according to latest figures released by the Saudi Central Bank, also known as SAMA.
 Data compiled by Arab News shows a 27.6 percent year-on-year growth in total real estate lending, but the growth rate has slowed in comparison to 44.1 percent in the same period last year.