Saudi Real Estate Refinance Company Partners with King Street Capital to Boost Real Estate Finance
The Saudi Real Estate Refinance Company (SRC) has entered into a strategic partnership with King Street Capital Management to enhance liquidity and stability in Saudi Arabia’s secondary real estate financing market.
The Memorandum of Understanding (MoU) was signed in New York City during the official visit of the Saudi Minister of Municipalities and Housing, His Excellency Majed bin Abdullah Al-Hogail.
The agreement, finalised by SRC CEO Majeed Fahd Al-Abdul Jabbar and King Street Managing Partner Brian J. Higgins, focuses on developing innovative financial instruments and diversifying liquidity sources to support the real estate sector. The partnership is expected to attract international investments and advance the housing program targets outlined in Saudi Arabia’s Vision 2030.
Majeed Al-Abdul Jabbar emphasised that this MoU supports Saudi Arabia’s goal of increasing homeownership to 70% by 2030 and boosting the real estate market’s growth. Brian J. Higgins noted that the partnership will enhance local capital markets and attract international investors, aligning with Vision 2030’s objectives.
SRC, established in 2017 by the Public Investment Fund, has played a crucial role in stabilising the residential real estate finance market by providing necessary liquidity. King Street Capital Management brings extensive expertise in credit and real estate investment as they are a global alternative investment firm founded in 1995.
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