the Saudi Real Estate Refinancing Company (SRC), a subsidiary of the Public Investment Fund, has signed a major agreement to purchase a real estate financing portfolio worth one billion riyals from Bedaya Finance. This strategic move comes as part of the Kingdom’s efforts to strengthen the housing sector and achieve the goals of Vision 2030.
The signing ceremony was attended by senior officials, including the Minister of Municipal and Housing Affairs, Majed bin Abdullah Al-Hogail, underscoring the importance of this deal for the Kingdom’s housing sector.
This agreement aims to increase liquidity in the mortgage market, thereby facilitating citizens’ access to the financing needed to purchase homes. This step aligns with the objectives of the housing program, which aims to raise the homeownership rate among Saudi citizens.
The CEO of the Saudi Real Estate Refinancing Company emphasized that this agreement strengthens the partnership with Bedaya Finance and contributes to the development of an active secondary market for residential real estate financing in the Kingdom.
For his part, the CEO of Bedaya Finance confirmed that this agreement is part of the company’s efforts to provide innovative financing solutions that contribute to supporting the development of the securities market.
