Saudi Arabia’s mortgage industry structure: in-depth analysis

Yasser Abu Ateek, CEO of Dar Al Tamleek explains the structure of Saudi Arabia’s mortgage industry.

He says, “By default mortgage companies take more risk. In Saudi Arabia unfortunately the banks don’t take risk. They only have your salary and they do whatever they want, it is not a risk they are taking and that is why they don’t understand the transaction. “Give me your salary, I will give you a million riyals, buy a home for twenty years, I will have your salary as long as you work.” That is not taking risk.”