Saudi Banks May Give Homebuilders Additional Credit, Watan Says
By Mourad Haroutunian -
2012-02-06T06:59:26Z
Saudi Arabian banks may provide additional credit facilities to citizens who want to complete construction of their homes, al-Watan reported, citing Abdullah Radwan, the vice chairman of the contractors committee at the Council of Saudi Chambers.
Borrowers who have already obtained interest-free, 10-year loans of 500,000 riyals ($133,000) from Real Estate Development Fund may be entitled to a extra facilities, the newspaper said.
To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net
To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net
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