RIYADH: As the Kingdom looks to improve liquidity and increase investment opportunities in the real estate finance industry, it will make the region’s first-of-its-kind residential mortgage-backed securities available.
By introducing a novel asset class, the Saudi Real Estate Refinance Co., a division of the Public Investment Fund, and Hassana Investment Co. have signed a memorandum of agreement aimed at diversifying Saudi Arabia’s financial markets.
It is projected that the secondary mortgage market will see a large influx of domestic and international investors as a result of the issuing of mortgage-backed securities, opening up new investment options.
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,” stated Majeed Al-Abduljabbar, CEO of SRC. Together, we aim to introduce innovative financial solutions that align with the goals of Vision 2030 and provide value to citizens and investors,” he continued.
The agreement, signed in front of Housing Minister Majid Al-Hogail and Housing Minister Mohammed Al-Jadaan, aligns with Vision 2030’s Housing Program and Financial Sector Development Program.
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