SRC to sponsor Al-Ittihad Club for 3 years

The Saudi Real Estate Refinance Company (SRC), wholly owned by the Public Investment Fund (PIF), has struck a three-year sponsorship agreement with Saudi Football Club Al-Ittihad. The sponsorship agreement includes commercial and marketing rights that would benefit both sides.

Deputy CEO of SRC Majeed Fahad Alabduljabbar said, “The sponsorship is part of SRC’s support for the development of the Kingdom’s thriving sports sector and the key objectives of Saudi Vision 2030 “Quality of Life Program” to promote sporting activity.

“SRC’s commitment to this agreement stems from its desire to contribute to the realization of the Saudi Vision 2030 objectives and to enhance its social responsibility towards the overall sports landscape. Sports and entertainment have become increasingly prominent to the Saudi economy and have a crucial role in our country’s future development, making it an attractive destination across various industries. We take great pride in being part of the Kingdom’s sports sector development.”

Al-Ittihad CEO Abdulwahab Abed expressed his delight to sign the sponsorship deal following an exceptional sports season, saying, “This partnership with SRC would foster the club's expansion and provide support for its domestic and international endeavors moving forward”.

SRC was established in 2017 with the goal of becoming a key pillar and catalyst for growth and sustainability in the Kingdom's real estate refinancing sector. SRC obtained a license from the Saudi Central Bank to operate in real estate refinancing through the secondary market.