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FINANCIAL NEWS
Saudi Housing Ministry to make development firm
05 Apr 2016
(MENAFN) The Housing Ministry is planning to make its own development firm and will start a mortgage-guarantee fund to support banks to increase lending.
Furthermore, the kingdom is taking part in housing finance and development, and will enhance the productivity of the regional developers.
However, the kingdom faces a lack of more than 1.5mn homes through the coming five years, while it imposed a tax on urban land.
In addition, the new development Co. will give businesses plots of land in order to build homes and help them secure financing by offering some loan guarantees.
More News
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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