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FINANCIAL NEWS
Saudi central bank to set up property price index
16 Dec 2012
(MENAFN) The Saudi Arabian Monetary Agency (SAMA) plans to set up a real estate price index to be a benchmark and reference, reported Arab News.
According to Mohammed Al-Shaya, the general manager of a financial supervisory company, the new index will aid in avoiding a property crisis in the future.
The property sector is the second-biggest contributor to the Kingdom’s economy, with 9.5 percent of total GDP, as its volume exceeds USD266 billion with an annual growth of 6 percent.
Land prices in the country are high, representing nearly 60 percent of the total cost for constructing a house, hence, resulting in a real problem in the property sector.
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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