The Saudi Real Estate Refinance Company Closes USD 2.7 Billion Domestic Sukuk Programme

The Saudi Real Estate Refinance Company Closes USD 2.7 Billion Domestic Sukuk Programme

https://islamicmarkets.com/articles/the-saudi-real-estate-refinance-company-closes-usd-2-7-billion
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The Saudi Real Estate Refinance Company (SRC), the Public Investment Fund’s fully owned entity, has announced the successful closure of its SAR 10 billion (USD 2.7 billion) domestic Sukuk programme.

Why it Matters?

The programme received a positive response within the local market as seen in the oversubscription of its issuances within the year duration from the offering of the first series, reflecting investors’ confidence in the local housing market and economy. According to SRC’s Chief Executive Officer (CEO), Fabrice Susini, the company hopes to continue regularly offering Sukuk programmes to assist with further stabilising the Saudi mortgage market and accelerating homeownership in the country in line with Vision 2030 goals, whi...