Saudi Real Estate Refinance Company (SRC) Extends its Refinancing Agreement with Alrajhi Bank with an Additional SAR 5.8 billion

Riyadh, Saudi Arabia, 03January 2024 – The Saudi Real Estate Refinance Company (SRC), wholly owned by the Public Investment Fund (PIF), has extended its refinancing agreement with Alrajhi Bank, the world’s largest Islamic bank by mortgage assets and market cap, with an additional SAR 5.8 billion bringing the total value of refinancing agreements between the two to SAR 10.8 billion.

The continued collaboration between SRC and Alrajhi Bank, as highlighted by this new agreement, pinpoints SRC’s pivotal role in enhancing growth capabilities of banks and financiers through offering liquidity, capital management, and balance sheet de-risking solutions that will lead to an increase in the origination of new home loan assets, making home financing more accessible.

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