Saudi Real Estate Gets a Boost from BlackRock Partnership

SRC Signs MoU with US Investment Giant

The Saudi Real Estate Refinance Company (SRC) has taken a significant step forward by partnering with the US investment giant BlackRock. The two companies have signed a memorandum of understanding (MoU) to collaborate on innovative real estate finance programs and attract more businesses to the sector’s capital markets.

This partnership comes on the heels of a visit by Saudi Minister of Municipalities and Housing, Majid bin Abdullah Al-Hogail, who also chairs the SRC Board of Directors. The collaboration is expected to fuel growth and diversification in the Saudi real estate market.

The agreement centers on establishing programs to refinance real estate projects within the Kingdom and broaden access to funding through domestic and global capital market avenues. By diversifying funding sources, the partnership seeks to bolster the stability of the real estate finance market and contribute to the overarching objectives of Saudi Vision 2030.

Moreover, the collaboration between SRC and BlackRock underscores the increasing allure of the Saudi real estate market to international investors. The partnership is anticipated to attract new capital, stimulate development, and support the Kingdom’s economic growth.

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