In early July 2012 Saudi Arabia’s cabinet approved a legislative package that is expected to completely overhaul the Kingdom’s mortgage market. The new mortgage framework, which has been in development for more than a decade, is expected to be put in place by the end of 2012, though it could potentially be pushed to early 2013....
The Middle East
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Articles & Analysis | New business: Changes in the mortgage market bode well for the insurance industry from The Report: Saudi Arabia 2013
Articles & Analysis | Increased security: Defence offsets programme helps to create local benefits from The Report: Saudi Arabia 2013
Looking to safeguard the county’s security in a tumultuous region, Saudi Arabia’s spending on defence continually ranks among the highest components of the country’s annual budget. While military expenditures as a proportion of the entire budget has fallen in recent years, defence and security spending accounted for 30.8% of the...
Articles & Analysis | Centre of activity: Redevelopment is expected to spur growth across a range of sectors from The Report: Saudi Arabia 2013
As Islam’s holiest city, Makkah has an economy that enjoys extraordinarily high demand from the many millions of Muslim pilgrims who visit it each year. With pilgrim numbers expected to nearly double between 2008 and 2019, the real estate, infrastructure, hospitality and retail sectors are among those most likely to benefit. All...
Interviews & Viewpoints | Patrice Couvegnes, CEO, Banque Saudi Fransi, and Bernd van Linder, Managing Director, Saudi Hollandi Bank: Interview from The Report: Saudi Arabia 2013
In what way will Basel III affect the ability of banks to offer new products and services?
Interviews & Viewpoints | OBG talks to Abdullah Al Sharif, Secretary-General, Council of Cooperative Health Insurance (CCHI) from The Report: Saudi Arabia 2013
What steps are being taken to implement mandatory insurance for Saudis in the private sector?
Articles & Analysis | Home sweet home: Reforms to the mortgage law and a major supply shortfall are set to transform the sector from The Report: Saudi Arabia 2013
Restricted by regulatory uncertainty and underdevelopment over the past two decades, the Saudi Arabian real estate market is poised for a breakout in the coming years as long-awaited mortgage law reforms and more than a million new units planned for construction look set to transform the domestic market.