Saudi Arabia intends to issue real estate bonds worth $40bn by 2030 — minister of housing
RIYADH: Saudi Arabia plans to issue real estate bonds in global markets worth up to SR150 ($40 billion) by 2030, Minister of Municipalities and Housing Majid Al-Hogail said in an interview with Asharq News.
Speaking on the sidelines of the World Urban Forum in Baku, Azerbaijan, Al-Hogail said the Kingdom is awaiting the stabilization of the geopolitical situation, which has impacted global financing costs, before beginning annual real estate bond issuances this year, targeting SR20 billion.
A $5bn international sukuk program
The Kingdom is relying on real estate sukuk issuances to alleviate the financing burden on the banking sector, which is already facing liquidity pressures due to financing mega-projects under Vision 2030.
