SRC Extends its Refinancing Agreement with arab national bank (anb) with an Additional SAR 500 million

SRC Extends its Refinancing Agreement with arab national bank (anb) with an Additional SAR 500 million

The Saudi Real Estate Refinance Company (SRC), a Public Investment Fund (PIF) company, has extended its refinancing agreement with arab national bank (anb) with an additional SAR 500 million. This is the second refinancing agreement between both entities.  The agreement was signed by Majeed Fahad Alabduljabbar, CEO of SRC and Obaid Alrasheed, CEO of anb in the presence of His Excellency Majed Al-Hogail Minister of Municipal, Rural Affairs and Housing and Chairman of SRC, and Mr. Salah Al-Rashed, Chairman of Arab National Bank. The agreement signifies SRC’s continued efforts to support the Kingdom’s home financing market by expanding mortgage refinance and providing SRC solutions to real estate financing entities to support growth. This is the second refinancing agreement between SRC and anb. This reflects both parties’ commitment to supporting sector growth, through the provision of convenient real-estate financing solutions to Saudi citizens, making home financing accessible for Saudi citizens in line with Vision 2030’s Housing Program objectives.  Majeed Fahad Alabduljabbar, CEO of SRC said: “With our shared vision to support the Kingdom’s housing market and enabling accessible home financing solutions for Saudi citizens, we are pleased to extend our partnership with anb. Through this partnership, we will further increase market liquidity that will