• SRC completes pricing of its first international $2 billion sukuk offering, as part of its $5 billion international program
• Issuance of SRC’s first sukuk highlights strong demand from 300+ institutional investors
• PIF-owned SRC supports the national aim for 70% of Saudis to own their homes by 2030

PIF-owned Saudi Real Estate Refinance Company (SRC) has successfully completed the pricing of its first government-guaranteed international sukuk, valued at $2 billion.

Structured in two tranches with maturities of three and 10 years, the issuance was oversubscribed six times, reflecting strong demand from more than 300 institutional investors.

Emphasizing the company’s pivotal role in the housing finance market in Saudi Arabia, this sukuk forms part of SRC’s $5 billion international sukuk program that was listed on the London Stock Exchange (LSE) and is backed by strong credit ratings. 

Majed Al-Hogail, Minister of Municipalities and Housing and Chairman of the Board of SRC, said: “The successful listing of the international sukuk program at the London Stock Exchange (LSE) reflects the unwavering support of our wise leadership and reinforces Saudi Arabia’s housing finance ecosystem, while providing innovative financing solutions for citizens.”

 

“This marks a significant milestone in integrating the Saudi economy with global markets, attracting foreign direct investment, enhancing liquidity, and developing the secondary mortgage market in Saudi Arabia.”

The issuance is listed on the International Securities Market (ISM) of the London Stock Exchange (LSE), further enhancing market liquidity and supporting Saudi Arabia’s mortgage finance ecosystem.

As a PIF portfolio company, SRC supports the national target for 70% of Saudis to own their homes by 2030.