Saudi Real Estate Refinance assets may double as mortgage sector booms

The fledgling Saudi mortgage market is a rare bright spot within the regional real estate market where prices remain broadly depressed. (File/Shutterstock)
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Updated 14 March 2021
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Saudi Real Estate Refinance assets may double as mortgage sector booms

  • Mortgages reached SR136 billion in 2020 with 6,333 new contracts

DUBAI: Saudi Real Estate Refinance assets are expected to double this year amid a mortgage boom in the Kingdom, Argaam reported.
The finance company held SR7 billion ($1.86 billion) in assets by the end of 2020, the financial news site said, citing Majeed Abduljabbar, global head of treasury and capital markets at SRC.

The fledgling Saudi mortgage market is a rare bright spot within the regional real estate market where prices remain broadly depressed.

The completion of a SR4 billion sukuk issuance was part of the company’s SR10 billion sukuk program in 2021, he noted.

It will help to boost real estate market liquidity and stability, Abduljabbar said.
The move will also help the cause of home ownership by reducing financing costs.
Mortgages reached SR136 billion in 2020 with 6,333 new contracts, he noted.
Abduljabbar expects the first quarter of the year to see further growth in mortgages for Saudi nationals.
The mortgage portfolios of Al Rajhi Bank, National Commercial Bank (NCB) and Riyad Bank saw significant growth, he added.


Closing Bell: Saudi main market sheds 85 points to finish at 11,098 

Updated 17 February 2026
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Closing Bell: Saudi main market sheds 85 points to finish at 11,098 

RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower in the latest session, falling 85.79 points, or 0.77 percent, to finish at 11,098.06. 

The MSCI Tadawul 30 Index declined 0.63 percent to close at 1,495.23, while the parallel market index Nomu dropped 0.91 percent to 23,548.56.  

Market breadth was firmly negative, with 42 gainers against 218 decliners on the main market. Trading activity saw 226 million shares exchanged, with total turnover reaching SR4.5 billion ($1.19 billion).  

Among the session’s gainers, Tourism Enterprise Co. rose 9.40 percent to SR15.02. SHL Finance Co. advanced 4.51 percent to SR16.00, while Almasar Alshamil for Education Co. gained 3.56 percent to SR23.88.  

Dar Alarkan Real Estate Development Co. added 3.03 percent to SR19.70, and Banque Saudi Fransi climbed 2.61 percent to SR19.30. 

On the losing side, Almasane Alkobra Mining Co. recorded the steepest decline, falling 6.61 percent to SR96.

Al Moammar Information Systems Co. dropped 5.14 percent to SR164.20, while National Company for Learning and Education declined 4.60 percent to SR124.30. Saudi Ceramic Co. slipped 4.14 percent to SR27.30, and Arabian Contracting Services Co. fell 4.12 percent to SR116.50. 

On the announcement front, Saudi Telecom Co. announced the distribution of interim cash dividends for the fourth quarter of 2025 in line with its approved dividend policy.  

The company will distribute SR2.74 billion, equivalent to SR0.55 per share, to shareholders for the quarter.  

The number of shares eligible for dividends stands at approximately 4.99 billion shares. The eligibility date has been set for Feb. 23, with distribution scheduled for March 12.  

The company noted that treasury shares are not entitled to dividends and that payments will be made through Riyad Bank via direct transfer to shareholders’ bank accounts. stc shares last traded at SR44.80, unchanged on the session. 

Separately, National Environmental Recycling Co., known as Tadweer, reported its annual financial results for the year ended Dec. 31, 2025, posting significant growth in revenue and profit.  

Revenue rose 53.5 percent year on year to SR1.24 billion, compared with SR806 million in the previous year. Net profit attributable to shareholders increased 68.4 percent to SR60.9 million, up from SR36.2 million a year earlier, driven by higher sales volumes and operational expansion.

Tadweer shares last traded at SR3.80, up 2.70 percent.