Saudi Arabia is planning to spend SAR120bn (USD32bn) on subsidised home loans for borrowers, as it seeks to create conditions for an expanded private-sector role in a mortgage market dominated by the government. The Kingdom’s new housing programme, announced on Monday, also includes an SAR18bn loan-guarantee programme to boost access to funding and SAR12.5bn to support home down-payments, all to be spent through 2030, Housing Minister Majed Alhogail said in an interview. Authorities want to expand the mortgage market by more than 70% to reach SAR502bn by 2020, largely through increased private-sector participation, he said. Currently, the government provides 65% of home loans. The Kingdom wants to build 125,000 housing units in 2018, compared to 110,000 last year, Alhogail said. Most new units cost between SAR250-750k, he said.