Saudi Refinancing, Banque-Saudi-Fransi Co-sign 2nd Agreement to Purchase Financing Portfolio

Saudi Refinancing, Banque-Saudi-Fransi Co-sign 2nd Agreement over Purchase of Financing portfolio

The Saudi Real Estate Refinancing Company (SRC) wholly owned by the Public Investment Fund and Banque Saudi Fransi have co signed a partnership agreement with the aim of refinancing part of the bank’s real estate financing portfolio.
The term for the local housing market is part of the company’s role in supporting financiers in the Kingdom, to develop a secondary real estate financing market.
Stabilizing the residential real estate finance market and enabling Saudi families to obtain affordable and low-cost housing finance, which contributes to increasing the proportion of residential ownership to 70% by 2030, in accordance with the objectives of the Iskan Program – one of the programs of the Kingdom’s Vision 2030, is the ultimate goal of the move.