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1556377908338536100
Sat, 2019-04-27 18:10
LONDON: The Saudi Real Estate Refinance Co. (SRC) said on Saturday it had agreed to buy SR750 million ($200 million) worth of mortgages from local banks and mortgage financing companies.
The agreements, signed during last week’s Financial Sector Conference in Riyadh, included deals with Banque Saudi Fransi and Saudi British Bank (SABB), SRC said in statements.
The company, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), aims to inject liquidity into the Saudi housing finance market by buying out mortgages.
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