Riyadh – Mubasher: Saudi Arabian mortgage finance sector is expected to receive SAR 60 billion ($16 billion) investments in 2019.

The completion of the mortgage finance system in Saudi Arabia will increase real estate ownership to 70% in line with kingdom’s Vision 2030, housing minister Majed al-Hogail said on Wednesday.

The minister added that the residential projects between the government and developers are located in many sectors.

“The average supply of housing units in the Saudi real estate market is between 350,000 to 375,000 units across the Kingdom,” Reuters reported, citing al-Hogail as saying.