Saudization rate raises to 35% for 94 technical engineering professions, effective May 9, 2027
RIYADH — The Ministry of Human Resources and Social Development, in partnership with the Ministry of Municipalities and Housing, announced on Sunday the decision to increase the Saudization rate for 94 technical engineering professions in private sector establishments to 35 percent, effective May 9, 2027.The decision is part of the ministry's ongoing efforts to advance the Saudization of…
In the third quarter of 2026, finance companies in Saudi Arabia extended SR604 million in new residential mortgage financing to individuals, marking an 8% growth compared to the same period in 2025, according to the Saudi Central Bank's (SAMA) monthly statistical report. The report further broke down the financing by sector: villas, apartments, and land, revealing an 8% increase in villa financing to SR210 million, a 5% rise in apartment financing to SR310 million, and a 59% jump in land financing to SR84 million.
However, the volume of new residential mortgage financing extended to individuals by finance companies decreased by 15% in Q3 2026 compared to Q2 2026, with the total falling from SR711 million to SR604 million. This decline was observed across all sectors: villa financing dropped from SR269 million to SR210 million, apartment financing decreased from SR332 million to SR310 million, and land financing contracted from SR111 million to SR84 million.
The report also noted a 3.2% increase in new residential mortgage financing for individuals provided by finance companies from Q1 2026 to Q3 2026. Villa financing grew from SR249 million to SR210 million, apartment financing rose from SR279 million to SR310 million, and land financing increased from SR57 million to SR84 million.
Furthermore, financing in the villa sector in Q3 2026 was SR210 million, down from SR284 million in Q4 2025, while financing in the apartment sector was SR310 million, down from SR353 million in Q4 2025, and land financing was SR84 million, down from SR100 million in Q4 2025.
Written by urgent.news from Saudi Gazette's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 4 other outlets
- Saudi Arabia raises Saudization rate for 94 technical engineering roles to 35% in private sector english.ajel.sa
- Residential mortgage financing for individuals in Saudi Arabia rises 8% to SR604 million in Q3 2026 saudigazette.com.sa
- Saudi Arabia issues all-clear after security alerts in Eastern Province dailytimes.com.pk
- Houthis claim attack on Saudi Arabia's King Khalad airport middleeasteye.net
