RIYADH — The monthly report issued by Saudi Central Bank, previously known as “SAMA”, reveals that residential new mortgage for individuals increased by 28% with value of SR14.1 billion in February 2021. The mortgage loans reached 26,860 contracts with growth 6% comparing to February 2020. The mortgages provided by real estate financing institutions and banks last two month increased 20% with 59,671 contracts. Compared to January and February 2020, the residential mortgage grew 43% in value with SR30.5 billion. The SAMA report showed that mortgage loans in January and February 2020 recorded 49,673 contracts valued SR21.3 billion. The SAMA report revealed that 97% of newly mortgages concluded through banks, while 3% of them through financing companies. In February 2021, 80% of the fund provided by banks and financing companies is for residential villas, apartments (16%), and lands (4%). Mortgage in 2020 was an outstanding performance. It was 295,590 contracts with value SR140.7, which equaled the four years (2019, 2018, 2017 and 2016). In 2019 mortgage jumped 3 times in a historical performance with 179,217 contracts with value of SR79,128 billion comparing to 2018 that recorded 50,496 contracts with value of SR29.5 billion. In 2017 there were about 30,833 contracts with value of SR21,025 billion, while in 2016 it was about 22,259 contracts worth SR17,096 billion. — SPA