Riyadh – Mubasher: The Saudi Real Estate Refinance Company (SRC), a Public Investment Fund (PIF) company, has signed a memorandum of understanding (MoU) with Hassana Investment Company.
The joint agreement aims to expand the financial market in the Kingdom in line with the objectives of Saudi Vision 2030, according to a press release.
They will also join forces to boost liquidity in the real estate finance sector by introducing an innovative asset class through the issuance of residential mortgage-backed securities.
These issuances are expected to attract a diverse base of local and global investors in the secondary mortgage market and widen investment opportunities in the sector.
Majeed Al Abduljabbar, CEO of SRC, stated: “Our partnership with Hassana marks a significant milestone in supporting the evolution of the housing finance landscape and fostering the development of Saudi Arabia’s capital markets.”
“Together, we aim to introduce innovative financial solutions that deliver value to both investors and citizens while aligning with Vision 2030’s objectives,” Al Abduljabbar continued.
Saad Al Fadhli, CEO of Hassana, commented: “This collaboration establishes a new standard for partnerships, enabling the development of scalable financial solutions that contribute to the Kingdom’s economic development goals.”
