Logo of Saudi Real Estate Refinance Co. (SRC)
Saudi Real Estate Refinance Co. (SRC)—one of the companies owned by the Public Investment Fund (PIF)—signed an agreement to purchase two mortgage portfolios with Al Rajhi Bank, with a total value of SAR 10 billion, during the Cityscape Global 2025 exhibition. 
The agreement includes Al Rajhi Bank originating mortgage portfolios and SRC subsequently refinancing them, following the originate to distribute (OTD) model. This model enables banks and financing companies to recycle liquidity and expand the scope of real estate financing provision.
The goal of the OTD model is to ensure continuous liquidity in the market and support securitization activities, thereby strengthening the development of the secondary market for real estate financing in the Kingdom.
According to a statement issued regarding the agreement, this initiative seeks to establish the stability and sustainability of the residential mortgage system by supporting financing entities with effective solutions for liquidity and capital management.
It also enables banks to continue expanding real estate financing provision, alongside boosting opportunities for citizens to own homes.
SRC stated that implementing the OTD model represents a practical step towards developing the secondary market and enabling financing entities to expand residential financing.
Al Rajhi Bank stated that this model empowers the bank to meet the increasing demand for mortgage and facilitate the homeownership journey for a wider segment of citizens.
SRC was established by the PIF in 2017 with the aim of developing the mortgage market in the Kingdom, after obtaining a license from the Saudi Central Bank (SAMA) to operate in the mortgage field.
Logo of Saudi Real Estate Refinance Co. (SRC)
Saudi Real Estate Refinance Co. (SRC)—one of the companies owned by the Public Investment Fund (PIF)—signed an agreement to purchase two mortgage portfolios with Al Rajhi Bank, with a total value of SAR 10 billion, during the Cityscape Global 2025 exhibition.
The agreement includes Al Rajhi Bank originating mortgage portfolios and SRC subsequently refinancing them, following the originate to distribute (OTD) model. This model enables banks and financing companies to recycle liquidity and expand the scope of real estate financing provision.
The goal of the OTD model is to ensure continuous liquidity in the market and support securitization activities, thereby strengthening the development of the secondary market for real estate financing in the Kingdom.
According to a statement issued regarding the agreement, this initiative seeks to establish the stability and sustainability of the residential mortgage system by supporting financing entities with effective solutions for liquidity and capital management.
It also enables banks to continue expanding real estate financing provision, alongside boosting opportunities for citizens to own homes.
SRC stated that implementing the OTD model represents a practical step towards developing the secondary market and enabling financing entities to expand residential financing.
Al Rajhi Bank stated that this model empowers the bank to meet the increasing demand for mortgage and facilitate the homeownership journey for a wider segment of citizens.
SRC was established by the PIF in 2017 with the aim of developing the mortgage market in the Kingdom, after obtaining a license from the Saudi Central Bank (SAMA) to operate in the mortgage field.
