Saudi Real Estate Refinancing Company Infuses SR50 Billion into Housing Finance Market
With a strategic boost from the Saudi Real Estate Refinancing Company (SRC), Saudi Arabia’s secondary housing finance market has received a shot in the arm. SRC has provided
Buy/sell, rent/lease residential &
commercials real estate properties.
over SR50 billion ($13 billion) in additional liquidity, a move designed to revitalize the real estate sector and support the Kingdom’s Vision 2030 goal of 70% home ownership.
Established in 2017 and fully owned by the Public Investment Fund, SRC’s focus has been on funding originators and financiers rather than individual buyers, a mechanism that has proved beneficial in enhancing market liquidity.
Revolutionizing Housing Finance
Since its establishment, SRC has facilitated a major shift in the approach to housing finance. The company has executed 30 real estate refinancing transactions in support of nine residential finance institutions, worth over SR5.6 billion during the past two years.
Between 2021 and 2023, SRC’s support for the secondary market continued with refinancing operations totaling SR29 billion across 54 transactions with 16 institutions.