Saudi Arabia plans Islamic sukuk issuance backed by real estate

The Saudi Real Estate Refinance Company plans to issue Islamic sukuk backed by mortgage collateral worth 431.3 million riyals (approximately $114.9 million). This marks the first of its kind in the Saudi market to carry an official credit rating. The issuance is part of efforts to develop the mortgage financing market and enhance liquidity through securitization of residential loans. It also reflects the company's strategy to create diverse investment tools and strengthen the local investment environment. Previously, in 2025, the company launched its first issuance of securities backed by residential mortgage loans, and in 2026, it led international bond issues totaling $2.75 billion, increasing the sukuk program to $10 billion, with strong investor interest. These initiatives aim to support the housing ecosystem and financial development in the Kingdom, in line with Vision 2030.

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