The Saudi Real Estate Refinancing Company signed an agreement with Banque Saudi Fransi, in the presence of Majid bin Abdullah Al-Hogail, Minister of Housing and Chairman of the Board of Directors of the Saudi Real Estate Refinancing Company, with the aim of providing more diverse housing financing solutions at better rates. The agreement was signed at the Ministry of Housing headquarters by Fabrice Susini, CEO of the Saudi Real Estate Refinance Company, and Rayan Fayez, Managing Director and CEO of Banque Saudi Fransi, in the presence of a number of executives from both sides. This agreement comes two months after the Saudi Real Estate Refinancing Company launched the first tranche of 15- to 20-year fixed-rate mortgage loans, which are offered to citizens through leading financial institutions in the Kingdom as part of efforts to stimulate the real estate financing sector.
Fabrice Susini explained that the agreement with “Banque Saoudienne Française” is part of our objectives regarding long-term fixed-rate mortgage financing, as Saudi Fransi has become a partner in offering more long-term mortgage solutions, which provide citizens with stability and security throughout the term of the loan. Susini added: “There is no doubt that making a range of long-term, fixed-rate mortgage products available to borrowers through various financial institutions will make it easier for middle-income citizens to access financing and thus own their own homes, especially since these loans help protect monthly payments against any future developments.” The needs of those seeking to own their own homes.
