Who we are

The Saudi Real Estate Refinance Company (SRC) was established in 2017 with the purpose of developing the housing finance market in the Kingdom of Saudi Arabia (‘KSA’) by enabling originators to offer home buyers long and short-term financing solutions.

SRC plays an important role in the National Transformation Plan 2020 and Vision 2030 housing sector plan to increase the number of citizens owning their own homes to 60% by 2020.

SRC is owned by the Public Investment Fund (PIF) and licenced to operate in the secondary real estate market by the Saudi Arabian Monetary Authority (SAMA). With a world-class management team following international best practice, SRC is uniquely positioned to become the partner of choice for lenders.

While SRC does not offer mortgages direct to home buyers, it offers funding to lenders, who are banks and finance companies, to enable them to offer accessible home loans for homebuyers.  By creating an effective secondary market, where home loans and servicing rights are bought from lenders (the mortgage originators) and sold to investors, SRC has increased liquidity making mortgages more accessible for Saudis.

Our mission

Act as an intermediary, by matching liquidity, capital, and risk management needs of originators (banks and finance companies) with risk appetite and return objectives of investors.

SRC also aims to raise home loan industry standards in Saudi Arabia.

Our vision

SRC’s vision is to be a catalyst of growth and stability in the Kingdom of Saudi Arabia’s real estate finance sector.

Our objectives

  • Ensure stability and growth of the secondary market
  • Improve liquidity to the secondary market
  • Provide access to local and foreign financing sources

H.E. Minister of Housing, Majed bin Abdullah Al Hugail

Chairman

Contact

H.E. Minister of Housing, Majed bin Abdullah Al Hugail

Chairman

Minister of housing at Ministry of housing

Dr. Abdulhamid bin Salih Alkhalifa

Deputy Chairman

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Dr. Abdulhamid bin Salih Alkhalifa

Deputy Chairman

Deputy Chairman

Mr. Fahad bin Abduljalil Al-Saif

Member representing Ministry of Finance

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Mr. Fahad bin Abduljalil Al-Saif

Member representing Ministry of Finance

Member representing Ministry of Finance

Dr. Mohammed bin Faraj Alzahrani

SRC Member

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Dr. Mohammed bin Faraj Alzahrani

SRC Member

SRC Member

Mr. Mohammad bin Saad Almuhana

SRC Member

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Mr. Mohammad bin Saad Almuhana

SRC Member

SRC Member

Mr. Joseph Roosi

SRC Member

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Mr. Joseph Roosi

SRC Member

SRC Member

Mr. James Bothwell

SRC Member

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Mr. James Bothwell

SRC Member

SRC Member

Fabrice Susini

Chief Executive Officer (CEO)

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Fabrice Susini

Chief Executive Officer (CEO)

Chief Executive Officer (CEO)

Saleh Al Omari

Head of Human Resources

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Saleh Al Omari

Head of Human Resources

Head of Human Resources

Tim Elliot

Chief Risk Officer

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Tim Elliot

Chief Risk Officer

Chief Risk Officer

Fahad AlHubabi

Head of Information Technology

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Fahad AlHubabi

Head of Information Technology

Head of Information Technology

Mashhour Al Baiz

Head of Compliance

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Mashhour Al Baiz

Head of Compliance

Head of Compliance

Camille Beyrouthy

Chief Operating Officer and Head of Strategy

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Camille Beyrouthy

Chief Operating Officer and Head of Strategy

Chief Operating Officer and Head of Strategy

Majed Al Rasheed

Head of Internal Audit

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Majed Al Rasheed

Head of Internal Audit

Head of Internal Audit

Elie Chahwan

Chief Financial Officer

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Elie Chahwan

Chief Financial Officer

Chief Financial Officer

Faisal Al-Khani

Head of Treasury & Financial Institutes

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Faisal Al-Khani

Head of Treasury & Financial Institutes

Head of Treasury & Financial Institutes

Saif Al Eifan

Head of Legal and Board Secretary

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Saif Al Eifan

Head of Legal and Board Secretary

Head of Legal and Board Secretary