SRC Signs Real Estate Finance Agreement with Bank Albilad

Riyadh, KSA – August 1, 2025 - The Saudi Real Estate Refinance Company (SRC), a Public Investment Fund (PIF) entity, has signed a real estate finance portfolio purchase agreement with Bank Albilad. The agreement was formalized in the presence of His Excellency Majid bin Abdullah Al-Hogail, Minister of Municipalities and Housing and Chairman of SRC, and Mr. Nasser bin Mohammed Al-Subaie, Chairman of Bank Albilad.

This strategic move reinforces the long-standing partnership between the two organizations and demonstrates their joint commitment to supporting the continued growth of the Kingdom’s residential real estate finance sector. It also aligns with broader initiatives under Saudi Vision 2030, which seeks to enhance financial sustainability and drive economic development.

Driving Financial Sustainability and Homeownership

Commenting on the announcement, SRC CEO Majeed bin Fahed Al-Abduljabbar said:

“This agreement marks an important milestone in strengthening our refinancing capabilities and in offering financing solutions for Saudi citizens. We value our continued partnership with Bank Albilad, which will play a key role in advancing future securitization plans, enhancing the sustainability of the residential real estate finance market, and attracting both local and international investment.”

Bank Albilad CEO Abdulaziz Al-Anizan added:

“Our partnership with SRC represents a pivotal step in supporting and developing the Kingdom’s real estate finance sector, while contributing to the ongoing evolution of Saudi capital markets. Together, we aim to deliver innovative financial solutions that create real value for both the financial and housing sectors, in line with Vision 2030.”

Partnership Origins and Strategic Impact

The new agreement builds upon the existing collaboration between SRC and Bank Albilad, which was originally established in 2022. Their joint efforts focus on promoting sustainability in the housing finance market and ensuring citizens have access to suitable home financing options.