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10-03-21
Saudi Real Estate Refinance Company launches USD2, 66B sukuk program
(MENAFN)About SR4 billion (USD1.07 billion) in long-term sukuk issuances were proclaimed by the Saudi Real Estate Refinance Company, offering liquidity to the Kingdom’s housing market.
The real estate finance company inaugurated a SR10 billion (about USD2, 66 billion) sukuk program targeting local investors.
The recent issuance was provided in seven- and 10-year tenors and was part of a private given to Saudi-based institutional investors.
Majed Al-Hogail, the minister of housing and chairman of the SRC stated that “The successful Sukuk issuance demonstrates confidence among the investor community and trust in a robust housing market in the Kingdom and more broadly a resilient Saudi economy.”
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