Scenario of Mortgage Funding in Saudi Arabia in 2023 : Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Amidst global uncertainties, Saudi Arabia emerges as a safe haven for investors. The country’s fading pandemic and rising energy prices have propelled the economy to growth rates not seen in years. The banking sector is undergoing a transformative shift, fuelled by the surge in oil prices and increased government revenues. Story Outline As the world entered 2022, optimism filled the Saudi banking sector with strong revenue growth and robust asset quality. Major Banks like Al Rajhi Bank and Saudi National Bank reported significant income rises, reflecting a positive outlook. However, despite challenges like the outbreak of war in Ukraine, the optimism remains steadfast. Delayed projects and stalled construction pose obstacles in financing initiatives. The Ministry of Education has withdrawn unfinished projects due to delays, leading to potential legal actions against contractors. Pandemic disruptions and limited financing options contribute to construction slowdowns and project postponements, hindering progress. For more information, request a free sample Report 1. Saudi Arabia: A Safe Haven amidst Global Uncertainties Amid the ongoing war in Europe, investments in less risky environment are becoming harder to find by investors, and the kingdom of Saudi Arabia has shown to be the most risk free places to invest in today’s time. The rise in oil prices is supporting the government’s financial reserves and helping the banking sector, which is experiencing a historic shift in ages. One major success story is Al Rajhi Bank, the country’s largest bank, which announced a significant net income increase of about 40% in 2021, equal to SR14.74 Bn. The start of 2022 brought about optimism in the Saudi banking sector, with analysts predicting strong revenue growth, robust asset quality, and an array of government projects that would drive loan growth. These predictions were validated as Saudi National Bank, the second-largest bank, recorded a net income increase of over 10% at SR 12.6 Bn. A month or so later, even with the outbreak of war in Ukraine and the spectre of stagflation, that optimism is largely undiminished. 2. Delayed Projects and Stalled Construction leading to disturbance in financing of projects Visit A link Request for Custom Report The Ministry of Education in KSA has withdrawn 26 unfinished projects from contractors due to delays. They have authorized education departments to take legal action against these contractors. The ministry expects the completion of 200 projects before the upcoming academic year, which will enhance services for citizens and replace substandard buildings. The combination of COVID-19-related disruptions and reduced financing options can lead to delayed construction projects or even complete stall in some cases. Construction sites may face temporary closures or slowdowns due to lockdown measures, labour shortages, and supply chain disruptions. Additionally, developers may postpone or cancel projects due to financial constraints, exacerbating the impact on the pace of construction. According to Ken Research, the cancellation of the cost-of-living allowance for civil servants and pensioners necessitates a realignment of spending allocation for housing initiatives. As Saudi Arabia navigates these challenges, the country’s resilience and commitment to Vision 2030 continue to drive progress. By addressing funding disruptions and implementing strategic measures, the mortgage funding landscape in Saudi Arabia can adapt and thrive, supporting the country’s ambitious goals for the future. 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