By: Aseel bin Taleb
Riyadh – Mubasher: The real estate financing system supports establishing refinancing firms owned by the Public Investment Fund (PIF) in cooperation with financing firms from the private sector, said Abdullah Al Sudairy, CEO of Amlak International.
We are currently examining launching a company with capital of SAR 5 billion or more, the official told Mubasher in an exclusive interview, noting that most financing firms will be listed on the Saudi Stock Exchange (Tadawul).
Speaking during a workshop at the Riyadh Real Estate and Urban Development Exhibition “Restatex”, Al Sudairy discussed financing resources and the importance of establishing a refinancing company that can provide liquidity to banks and firms by buying financing portfolios and selling them in other markets.
Translated by: Nada Adel Sobhi
