Saudi Real Estate Refinancing Company (SRC) and Albilad Bank sign real estate financing portfolio purchase agreement

According to Crowdfundinsider, the Saudi Real Estate Refinancing Company (SRC) recently signed a real estate financing portfolio purchase agreement with Albilad Bank, aimed at strengthening the mortgage market in the Kingdom of Saudi Arabia and enhancing the liquidity of the financial system. The signing ceremony was witnessed by the Minister of Municipal and Rural Affairs and Housing and SRC Chairman Majid bin Abdullah Al-Hogail, and Albilad Bank Chairman Nasser bin Mohammed Al-Subaie. The agreement is a continuation of the cooperation between the two institutions since 2022 and is part of a broader strategy to strengthen the secondary mortgage market, providing liquidity for primary lenders and expanding housing financing channels to support the housing plan goals of Saudi Vision 2030. SRC CEO Majeed bin Fahed Al-Abduljabbar stated that the agreement marks an important milestone in the company's expansion of refinancing capabilities and support for future securitization plans. This collaboration will help improve the sustainability of the mortgage market and attract domestic and international investments. 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 local capital markets, providing innovative and sustainable housing financing solutions.