RIYADH: The Saudi Real Estate Refinance Company (SRC), owned by Public Investment Fund, have today signed an agreement with Bank Aljazira to purchase a real estate financing portfolio with an estimated value of more than SR300 million ($79.9 million).
According to the Saudi Press Agency (SPA), the deal aims to provide long term liquidity for the residential market.
SRC and Bank Aljazira had a previous joint venture involving refinanced mortgage portfolios totalling SR480 million, SPA reported.
