17 Dec 2012
(MENAFN) Saudi Qassim University’s president, Khaled Al-Hamoudi, stated that the Kingdom’s real estate sector is expanding at an annual rate of 6 percent, reported Arab News.
Al-Hamoudi said that the USD266 billion market accounts for 9.5 percent of the country’s non-oil gross domestic product (GDP).
The Kingdom’s new mortgage law and its executive bylaw comprise regulations for property finance and development and permits banks to fund real estate projects.
The law was outlined after studying the main reasons for mortgage crisis in several parts of the world to evade such problems.
It is worth noting that King Abdullah has ordered the establishment of 500,000 housing units at a cost of USD66.57 billion, which would help lessen real estate prices and rents.
27 Jan 2025
BBK offers customers with exclusive Tas’heel and Mazaya Finance to own their dream home
15 Jan 2025
BBK Signs Strategic Partnership with Bahrain Airport Company to Develop “Express Cargo Village”
08 Jan 2025
Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
26 Dec 2024
BBK proudly supports “Celebrate Bahrain” as a gold sponsor in cooperation with BTEA
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
05 Nov 2024
As part of its digital transformation journey, BBK adds Google Wallet to its range of digital wallets
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more