SRC, Bank Albilad sign mortgage portfolio deal

Saudi Real Estate Refinance Company (SRC) signed a mortgage portfolio purchase agreement with Bank Albilad to strengthen sustainability in the Kingdom’s housing finance sector and offer accessible home financing solutions to residents.

The agreement deepens the existing partnership between the companies, the state-owned Saudi Press Agency (SPA) reported. The pact is part of broader efforts to expand cooperation, as well as drive growth in the housing and financial sectors.

Majeed Abduljabbar, CEO of SRC, said the agreement will support future securitization plans, reinforce the residential mortgage market’s sustainability, and help attract local and global investment.