SRC-Exchange

His Excellency the Minister of Municipalities and Housing and Chairman of the Board of the Saudi Real Estate Refinance Company, Mr. Majed bin Abdullah Al-Hogail, attended today the listing of the company’s first international sukuk program, valued at USD 5 billion, on London Stock Exchange. This strategic step reinforces the Kingdom of Saudi Arabia’s position in global financial markets, in the presence of His Royal Highness Prince Khalid bin Bandar bin Sultan Al Saud, Ambassador of the Kingdom of Saudi Arabia to the United Kingdom, the Lord Mayor of London, Mr. Alastair King, and a number of senior officials from the financial and investment sectors.

This listing represents a pivotal milestone in supporting the mortgage finance market in the Kingdom by enhancing liquidity, attracting foreign investment, and advancing the goals of Vision 2030, as well as the objectives of the Financial Sector Development Program, the Public Investment Fund Program, and the Housing Program, through the development of the housing sector and enabling citizens to access sustainable home financing.

Al-Hogail affirmed that this listing reflects the strength of the Saudi economy and the attractiveness of the real estate market to international investors, noting that issuing international sukuk supports the Kingdom’s integration into global financial markets and contributes to boosting foreign direct investment, in addition to diversifying funding sources in the housing sector.

His Excellency added that the Saudi Real Estate Refinance Company (SRC) plays a central role in enhancing the sustainability of mortgage financing by developing innovative financing solutions that support mortgage lenders and expand affordable financing options for citizens.

He further noted that the sukuk issuance aims to stimulate foreign investment in the housing market, as the Kingdom strives to increase the homeownership rate among citizens to 70% by 2030, through the provision of sustainable financing solutions and the development of a secondary mortgage market.

For his part, Mr. Majeed Al-Abduljabbar, CEO of the Saudi Real Estate Refinance Company, stated that the successful listing of the sukuk program reflects global market confidence in the Saudi economy and the sustainability of the mortgage finance sector. He added that this step will open the door for new strategic partnerships with leading global financial institutions, thereby enhancing the company’s ability to offer advanced and sustainable financing solutions.

This step strengthens the Saudi real estate market’s position as a global investment hub, benefiting from a strong economic environment, flexible regulations, and a national strategy aimed at attracting international investment — all contributing to the sustainable development of the housing sector.

It is worth noting that the Saudi Real Estate Refinance Company was established by the Public Investment Fund (PIF) in 2017 to develop the mortgage finance market in the Kingdom, after obtaining a license from the Saudi Central Bank to operate in the field of mortgage refinancing. SRC plays a key role in achieving the objectives of the Housing Program under Vision 2030, which aims to increase homeownership among Saudi citizens by providing liquidity to lenders, enabling them to offer affordable housing finance to individuals, and working closely with partners to support the Kingdom’s housing ecosystem.