TechFlow, August 3 — According to crowdfundinsider, the Saudi Real Estate Refinance Company (SRC) recently signed a real estate financing portfolio purchase agreement with Albilad Bank to strengthen the mortgage market in the Kingdom of Saudi Arabia and enhance liquidity within the financial system. The signing ceremony was attended by Minister of Municipal, Rural Affairs and Housing and SRC Chairman Majid bin Abdullah Al-Hogail, as well as Albilad Bank Chairman Nasser bin Mohammed Al-Subaie. This agreement continues the collaboration between the two institutions since 2022 and forms part of a broader strategy to strengthen the secondary mortgage market, aiming to provide liquidity for primary lenders and expand access to housing finance, supporting housing program goals under Saudi Vision 2030.
SRC CEO Majeed bin Fahed Al-Abduljabbar stated that the agreement marks a significant milestone in expanding the company's refinancing capacity and supporting future securitization initiatives. This partnership will help improve the sustainability of the housing mortgage market and attract domestic and foreign investment. Albilad Bank CEO Abdulaziz Al-Anizan emphasized that the collaboration will promote growth in Saudi Arabia’s real estate financing sector and the development of local capital markets by delivering innovative and sustainable housing finance solutions.
