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Samba Hands Over 100 Housing Units in Community Initiative

Samba Hands Over 100 Housing Units in Community Initiative
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Samba Hands Over 100 Housing Units in Community Initiative

Samba Hands Over 100 Housing Units in Community Initiative

Samba Financial Group has provided 100 housing units to needy families as part of the Housing Support Program that falls under its community initiatives.

The Program aims to provide 500 furnished housing units to the needy and 100 new and furnished housing villas ready for immediate housing.

The announcement was made on Wednesday during a ceremony held in Riyadh to hand over the keys to those benefiting from the program.

The ceremony was attended by Chairman of Samba Financial Group Issa al-Issa, Minister of Housing Dr. Majed Al-Hogail, Saudi Arabian Monetary Authority (SAMA) Governor Dr. Ahmed Al-Khulaifi, CEO of Samba Financial Group Rania Nashar and a number of officials.

Issa stated that Samba has taken the initiative to help 500 households, saying that around three batches have already been handed over to more than 1,600 beneficiaries.

Hogail said that the initiative reflects the spirit of fruitful cooperation and integration between the public and private sectors endorsed by the ministry and the Real Estate Development Fund (REDF) to provide citizens with houses.

The Saudi banking sector – supervised by SAMA – has been the strategic partner and a key arm for the ministry of housing, Hogail added.

Khulaifi depicted the initiative as evidence on the banking institutions' deep commitment to social responsibilities, and a reminder on the effective role of Saudi banks in providing incentives to development.

As for Nashar, she said that Samba’s initiative wouldn’t have succeeded without the joint efforts of all parties, stressing that it is an extension of a series of development programs implemented by the financial group.

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Saudi Housing Finance Rose 15% in the First Half of 2025 Thanks to Government Incentives

Citizens view a model of one of the residential master plans at the Cityscape Global exhibition in Riyadh (SPA)
Citizens view a model of one of the residential master plans at the Cityscape Global exhibition in Riyadh (SPA)
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20
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Saudi Housing Finance Rose 15% in the First Half of 2025 Thanks to Government Incentives

Citizens view a model of one of the residential master plans at the Cityscape Global exhibition in Riyadh (SPA)
Citizens view a model of one of the residential master plans at the Cityscape Global exhibition in Riyadh (SPA)

Housing finance for individuals in Saudi Arabia surged by 15% in the first half of 2025, reaching $12.8 billion (SAR48 billion), compared to $11.1 billion (SAR41.74 billion) in the same period last year, according to data from the Saudi Central Bank (SAMA).

Experts attribute the increase to a mix of government incentives, competitive financing offers, stable interest rates, and rising rents in major cities, which have boosted demand for home ownership.

Real estate consultant Matar Al-Shammari told Asharq Al-Awsat that the growth is largely driven by initiatives from the Ministry of Housing, the Real Estate Development Fund, and the “Sakani” program, along with stable mortgage rates and diverse housing products.

He noted that off-plan construction projects have seen particular interest, supported by competitive bank offers, fee exemptions, and a concentration of demand in cities like Riyadh, the Eastern Province, and the Western Region, which benefit from strong job markets, educational opportunities, and rapid economic growth. The entry of international developers into the Saudi market is also reinforcing its investment appeal.

For his part, property valuer and expert Eng. Ahmed Al-Faqih cited two main factors behind the surge. First, historically low mortgage rates, coupled with both new and pent-up demand, have logically boosted borrowing. Second, soaring rents in major urban centers have made buying more financially attractive than remaining a tenant.

Al-Faqih highlighted that government housing programs - particularly those by the National Housing Company - have focused on off-plan sales, offering preferential rates that make them more appealing than ready-built properties, thereby increasing the uptake of supported housing projects.

Real estate consultant Al-Oboudi bin Abdullah added that the rise in housing finance reflects sustained demand for residential projects in major cities, fueled by government incentives and attractive bank mortgage offers. He pointed to SAMA’s figures showing that over 97% of housing finance for individuals came from banks, with villas being the most financed property type (SAR29.6 billion), followed by apartments (SAR14.5 billion) and land plots (SAR2.65 billion).

These figures, he said, underline the continued strength and capacity of the Saudi housing market to absorb new projects, supported by strong buyer confidence. Looking ahead, he believes ongoing housing support programs, stable interest rates, and the imminent implementation of updated regulations allowing non-Saudis to own property will further stimulate the real estate sector in the second half of 2025.