Riyadh – Mubasher: The Saudi Public Pension Agency (PPA) signed an agreement to sell a mortgage portfolio in Masakin programme worth more than SAR 3 billion to the Saudi Real Estate Refinance Company (SRC), fully owned by the Public Investment Fund (PIF).

The deal is the kingdom’s first and largest-ever real estate financing transaction that reiterates the robustness of PPA's investments and underscores its commitment to meet all customers' needs in light of its strategic plans, according to a recent statement.

Moreover, the collaboration will boost the Masakin programme's capability to realise its goals, enhance liquidity in the market while providing more low-cost real estate financings to citizens.

It is noteworthy to mention that the deal is also one of the innovative financing solutions that guarantee higher home ownership rates in tandem with the Kingdom’s Vision 2030.