Saudi Real Estate Refinancing Company (SRC)

The Saudi Real Estate Refinance Company (SRC) was established in 2017 with the purpose of developing the housing finance market in the Kingdom of Saudi Arabia (‘KSA’) by enabling the originators to offer long term and short term financing solutions to home buyers. The Saudi Real Estate Refinance Company (SRC) was established in 2017 with the purpose of developing the housing finance market in the Kingdom of Saudi Arabia (‘KSA’) by enabling originators to offer home buyers long and short-term financing solutions. SRC plays an important role in the National Transformation Plan 2020 and Vision 2030 housing sector plan to increase the number of citizens owning their own homes to 60% by 2020. SRC is owned by the Public Investment Fund (PIF) and licenced to operate in the secondary real estate market by the Saudi Arabian Monetary Authority (SAMA). With a world-class management team following international best practice, SRC is uniquely positioned to become the partner of choice for lenders. While SRC does not offer mortgages direct to home buyers, it offers funding to lenders, who are banks and finance companies, to enable them to offer accessible home loans for homebuyers. By creating an effective secondary market, where home loans and servicing rights are bought from lenders (the mortgage originators) and sold to investors, SRC has increased liquidity making mortgages more accessible for Saudis.