Saudi Arabia will become the first Persian Gulf nation to establish a securitization market for residential mortgage-backed securities (RMBS).
The Public Investment Fund’s Saudi Real Estate Refinance Co. is partnering with Hassana Investment Co., a government pension fund, agreed to begin RMBS issuance. In a statement, the organizations said the new endeavor is designed to “attract a diverse base of local and global investors in the secondary mortgage market and broaden investment opportunities in the sector.”
Majeed Al Abduljabbar, CEO of Saudi Real Estate Refinance Co., said, “Our partnership with Hassana marks a significant milestone in supporting the evolution of the housing finance landscape and fostering the development of Saudi Arabia’s capital markets. Together, we aim to introduce innovative financial solutions that deliver value to both investors and citizens while aligning with Vision 2030’s objectives.”
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