The Saudi Real Estate Refinance Company (SRC) signed a real estate financing portfolio purchase agreement with Albilad Bank

ChainCatcher news, according to crowdfundinsider, the Saudi Real Estate Refinance Company (SRC) has recently signed a real estate financing portfolio purchase agreement with Albilad Bank, aimed at strengthening the housing mortgage market in the Kingdom of Saudi Arabia and enhancing the liquidity of the financial system. The signing ceremony was held in the presence of the Minister of Municipal and Rural Affairs and Housing and Chairman of SRC, Majid bin Abdullah Al-Hogail, as well as the Chairman of Albilad Bank, Nasser bin Mohammed Al-Subaie. This agreement is a continuation of the cooperation between the two institutions that began in 2022 and is part of a broader strategy to strengthen the secondary mortgage market, aimed at providing liquidity to major lending institutions and expanding housing financing channels, supporting the housing program goals under Saudi Vision 2030.

SRC CEO Majeed bin Fahed Al-Abduljabbar stated that the agreement marks an important milestone for the company in expanding its refinancing capabilities and supporting future securitization plans. This collaboration will help enhance the sustainability of the housing mortgage market and attract domestic and foreign investment. Albilad Bank CEO Abdulaziz Al-Anizan emphasized that this cooperation will promote the growth of the Saudi real estate financing industry and the development of the local capital market, providing innovative and sustainable housing financing solutions.