SRC Takes Third Mortgage Portfolio From BSF Arabian Post
Arabian Post Staff -Dubai
Saudi Real Estate Refinance Company has agreed to acquire another residential mortgage portfolio from Banque Saudi Fransi, marking the third portfolio purchase between the two institutions as Saudi Arabia expands liquidity in its housing finance market.The Public Investment Fund-owned company, known as SRC, said the transaction would reinforce cooperation with BSF by supplying liquidity to mortgage lenders and increasing their capacity to continue extending residential finance. No value for the portfolio was disclosed in the announcement.
The agreement was signed under the patronage of Minister of Municipalities and Housing and SRC chairman Majid bin Abdullah Al-Hogail, with BSF chairman Mazin bin Abdulrazzaq Al-Romaih attending the signing.
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