SRC buys SAR 5 bln worth real estate portfolios to re-inject them: Al-Hogail

08/10/2020 Argaam

The Minister of Housing and acting Minister of Municipal and Rural Affairs, Majid Al-Hogail, said that Saudi Real Estate Refinance Co. (SRC) purchased SAR 5 billion real estate portfolios to re-inject liquidity in the market.

 

The company aims to enter the domestic and international real estate sukuk market to acquire capital to be re-injected into the real estate market, which will help increase the ownership rates of Saudi families to 70% by 2030, Saudi Press Agency reported, quoting Al-Hogail.

 

The statements came during the media meeting organized by the Ministry of Media in cooperation with the Housing Program to highlight the most important results achieved in the housing sector within the goals of Vision 2030.

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