The agreement was signed by Tariq Al-Sadhan, CEO of SNB, and Majid Al-Abduljabbar, CEO of SRC, underlining their strategic partnership to support the housing sector and provide sustainable financing solutions. The agreement was signed by Tariq Al Sadhan, CEO of National Bank of Saudi Arabia, and Majeed Al Abduljabbar, CEO of Saudi Real Estate Refinance Company, emphasizing the strategic partnership between the two sides to support the housing sector and provide sustainable financing solutions.
The agreement was signed by Tariq Al Sadhan, CEO of National Bank of Saudi Arabia, and Majeed Al Abduljabbar.
Promote ownership opportunities and stimulate liquidity
The agreement aims to support efforts to enhance homeownership opportunities for citizens by providing long-term liquidity to the real estate finance market, contributing to the financial stability of the sector and supporting the objectives of the Kingdom's Vision 2030.
In this regard, the agreement aims to support the efforts to enhance the financial stability of the sector and support the objectives of the Kingdom's Vision 2030. <In this context, the CEO of the National Bank of Saudi Arabia, Tariq Al-Sadhan, emphasized that the bank continues its commitment to expand the range of residential financing solutions for citizens, by enhancing liquidity and providing competitive solutions that keep pace with the aspirations of Saudi families. He pointed out that the National Bank - as the largest real estate financier in the Kingdom - plays a pivotal role in supporting the objectives of the housing program and increasing the rate of home ownership by citizens to 70% by 2030.
Sadhan stressed that the bank is committed to expanding housing financing solutions for citizens by enhancing liquidity and providing competitive solutions that meet the aspirations of Saudi families. Al-Sadhan also stressed that this agreement strengthens the position of the Saudi National Bank in the secondary market for real estate finance and reinforces its role as a strategic partner in the grant-to-refinance model adopted by the Saudi Real Estate Refinance Company, which reflects positively on enhancing the liquidity and financial stability of the housing sector, as well as a milestone in the long-term sustainable securitization journey.
Al-Sadhan also stressed that this agreement strengthens the position of the Saudi National Bank in the secondary market for real estate finance.
Building a sustainable real estate finance market
<For his part, Majeed Al Abduljabbar, CEO of Saudi Real Estate Refinance Company, explained that the signing of this agreement with the National Bank of Saudi Arabia reflects the shared vision between the two sides to enhance the housing finance system in the Kingdom. He added that the company is working through this partnership to provide the necessary liquidity and establish an integrated framework for securitization, ensuring a sustainable real estate finance market that meets the aspirations of citizens to own a home. Abduljabbar pointed out that this agreement comes within a series of strategic operations implemented by SREC in the recent period, which enhances its pivotal role in supporting the secondary market for real estate financing and supports the long-term financial stability of this vital sector.Abduljabbar pointed out that this agreement comes within a series of strategic operations carried out by SREC in the recent period.
Stimulating financial innovation and attracting investments
<This agreement is a qualitative step towards the development of innovative financial instruments backed by mortgages, which contributes to increasing liquidity levels in the market and increasing the attractiveness of the real estate sector to local and international investors. This complementary partnership between the Saudi National Bank and SARL emphasizes their strategic role in stimulating economic growth by developing innovative financing solutions that support the real estate market.
Supporting the Kingdom's leadership in real estate finance
<The agreement supports the development of a strong secondary market for real estate finance in the Kingdom through the securitization of acquired portfolios, ensuring the long-term financial stability of the sector. It also strengthens Saudi Arabia's position as a regional leader in the real estate finance sector and contributes to achieving the objectives of Vision 2030 to build a balanced and sustainable housing sector that meets the needs of all segments of society.
