The Saudi Real Estate Refinance Company (SRC), a Public Investment Fund (PIF) company, has signed a memorandum of understanding (MoU) with Hassana Investment Company to expand the Kingdom’s financial market in line with Saudi Vision 2030.
The partnership aims to increase liquidity in the real estate finance sector through the issuance of residential mortgage-backed securities, creating a new asset class intended to attract local and international investors to the secondary mortgage market.
“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,” said Majeed Al Abduljabbar, CEO of SRC. “Together, we aim to introduce innovative financial solutions that deliver value to both investors and citizens while aligning with Vision 2030’s objectives.”
“This collaboration establishes a new standard for partnerships, enabling the development of scalable financial solutions that contribute to the Kingdom’s economic development goals,” said Saad Al Fadhli, CEO of Hassana.
