SRC Concludes Issuance of USD 533 Million Sukuk to Assist Saudi Arabian Housing Market

Saudi Real Estate Refinance Company (SRC) has concluded the issuance of an SAR 2 billion (USD 533 million) Sukuk to assist lenders in the housing market, with the goal of increasing home ownership by making it more affordable.

Why it Matters?

Mortgage originators will be able to offer reduced mortgage rates and assist the housing market with the newly acquired funds, making borrowing more accessible to purchasers.

Details

Fabrice Susini, Chief Executive Officer at SRC, which is wholly owned by the Public Investment Fund (PIF), said that as house ownership continues to rise, the enthusiastic response to its Sukuk reflects strong confidence in the Saudi housing market and the economy as well as solid investor support f...