Marcopolis presents the Saudi Arabia Report focused on the investments, doing business, economy and other topics featuring interviews with key executives. The sectors under review in this issue are industry, real-estate, ICT, investments, banking sector, telecom sector and many more.
Developed in conjunction with Ext-Joom.com
Yasser Abu Ateek serves as CEO of Dar Al Tamleek since 2008. Mr. Abu Ateek was previously Regional Manager, Western Region at Riyad Bank.
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."