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Saudi Refinance and PSF agree on third purchase
The Saudi Real Estate Refinance Company (SRC), affiliated with the Public Investment Fund, has signed an agreement to purchase a residential mortgage portfolio from the Saudi French Bank (BSF). This is the third such transaction between the two parties. The agreement aims to enhance the efficiency and sustainability of the housing finance market in the Kingdom by providing liquidity to financing institutions, developing the secondary mortgage market, and expanding options for housing financing. These efforts align with the goals of Saudi Vision 2030 and the Housing Program. Officials emphasized that this collaboration will help enable financing entities to expand residential mortgage financing, support sector growth, and strengthen the market’s resilience and sustainability. Established in 2017, the company’s main goal is to develop the mortgage finance market in the Kingdom and achieve higher homeownership rates among Saudi families.
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