Business · Companies · 6 hrs ago
Saudi Arabia targets $40 billion in mortgage refinancing by 2030
Saudi Arabia’s housing minister, Majid Al-Hogail, said the country aims to exceed $40 billion in mortgage refinancing by 2030.
He spoke at a global affordable housing finance investor summit in Virginia, United States.
Saudi Arabia’s mortgage market is worth about $260 billion, while current refinancing totals about $18.7 billion.
The government is seeking to expand long-term funding and attract more investors to support housing finance.
Home ownership among Saudi families rose from about 47% in 2016 to more than 66% by the end of 2025, and the target is 70% by 2030.
About one million families have received housing support, representing roughly a quarter of Saudi families.
The country says stronger financing, more housing supply and varied, competitively priced homes can help meet demand and make housing more affordable.
Saudi Arabia aims to exceed $40 billion in mortgage refinancing by 2030, Housing Minister Majid Al-Hogail said.
The Saudi Real Estate Refinance Company’s current refinancing operations total about $18.7 billion.
Al-Hogail said developing the housing finance market and linking it to long-term capital could strengthen the market and expand affordable housing options.
He made the remarks at the 2026 Ginnie Mae Global Investor Summit on Affordable Housing Finance in Virginia, United States.
Saudi home ownership rose from about 47% in 2016 to more than 66% at the end of 2025.
- Who
- Saudi Arabia and the Saudi Real Estate Refinance Company. Housing Minister Majid Al-Hogail announced the target.
- What
- The country aims to exceed $40 billion in mortgage refinancing by 2030.
- When
- The target is for 2030 and was announced on November 12, 2026.
- Where
- At the 2026 Ginnie Mae Global Investor Summit on Affordable Housing Finance in Virginia, United States.
- Why
- To develop the housing finance market, strengthen its sustainability and expand affordable housing options.
This story does not have two clearly opposing sides.
Home ownership among Saudi households was about 47%.
Home ownership among Saudi households had risen to more than 66%.
Majid Al-Hogail announced Saudi Arabia’s mortgage refinancing target at a summit in Virginia.
- Mortgage refinancing target
- More than $40 billion by 2030
- Current refinancing operations
- About $18.7 billion
- Saudi mortgage finance market
- About $260 billion
- Home ownership target
- 70% by 2030
- Housing support beneficiaries
- About 1 million households
What people are saying
Saudi Arabia aims to exceed $40 billion in mortgage refinancing by 2030.
The housing finance ecosystem in Saudi Arabia is based on five main pillars.