SRC acquires SAR 3B mortgage portfolio from Al Rajhi Bank

Logo of Saudi Real Estate Refinance Co. (SRC)

Saudi Real Estate Refinance Co. (SRC), a unit of the Public Investment Fund (PIF), signed an agreement to acquire a SAR 3 billion residential mortgage portfolio from Al Rajhi Bank.

The company’s CEO Majeed Abduljabbar said the deal supports the continued development of the Kingdom’s housing finance market and expands its partnership with Al Rajhi Bank. The transaction is expected to inject additional liquidity into the residential mortgage market while advancing the strategic objectives of the Housing Program, according to the Saudi Press Agency (SPA).

Through such partnerships, SRC continues to support Vision 2030 housing targets by enabling the mortgage ecosystem, enhancing liquidity, and broadening the investor base. These efforts aim to increase homeownership among Saudi nationals while reinforcing the sustainability of housing finance and the resilience of the broader economy.

Established by PIF in 2017, SRC is licensed by the Saudi Central Bank (SAMA) to operate in real estate refinancing. The company plays a central role in developing the Kingdom’s mortgage market by providing liquidity to financiers, enabling them to offer affordable home financing solutions, and working closely with stakeholders to support the housing ecosystem.