Deep Tide TechFlow News, on August 3, according to Crowdfund Insider, the Saudi Real Estate Refinancing Company (SRC) recently signed a real estate financing portfolio purchase agreement with Albilad Bank, aimed at strengthening the housing mortgage market in the Kingdom of Saudi Arabia and enhancing the liquidity of the financial system. The signing ceremony took place under the witness of the Minister of Municipal and Rural Affairs and Housing and Chairman of SRC, Majid bin Abdullah Al-Hogail, and the Chairman of Albilad Bank, Nasser bin Mohammed Al-Subaie. This agreement is a continuation of the cooperation between the two institutions that began in 2022, and is part of a broader strategy to strengthen the secondary mortgage market, aimed at providing liquidity to major lending institutions and expanding housing finance channels to support the housing program goals under Saudi Vision 2030.
SRC CEO Majeed bin Fahed Al-Abduljabbar stated that this agreement marks an important milestone in the company's efforts to expand refinancing capabilities and support future securitization plans. This collaboration will help enhance the sustainability of the housing mortgage market and attract domestic and foreign investment. Albilad Bank CEO Abdulaziz Al-Anizan emphasized that this collaboration will promote the growth of the Saudi real estate financing industry and the development of the local capital market, providing innovative and sustainable housing financing solutions.