RIYADH: Housing finance market developer Saudi Real Estate Refinance Co. announced the pricing completion for its third issuance of international sukuk guaranteed by the government, with a total value of $2.75 billion.
According to the Saudi Press Agency, the Public Investment Fund-owned company split the issuance into two tranches: $1.25 billion with a five-and-a-half-year maturity, and $1.5 billion with a 10-year maturity.
The latest issuance underscores Saudi Arabia's dual strategy of strengthening its presence in international debt markets while expanding domestic housing finance. Strong demand for sovereign and government-backed debt has helped the Kingdom diversify its funding sources and attract long-term foreign capital, while SRC's sukuk program provides liquidity to banks and mortgage lenders, supporting higher homeownership rates under Vision 2030.
The issuance drew strong demand from regional and international investors, with subscription orders reaching 6.8 times the offering size, orders exceeding $18.7 billion against the $2.75 billion issuance, according to Minister of Municipalities and Housing and SRC Chairman Majed Al-Hogail.
Al-Hogail posted on X that the figure “reflects global confidence in the national economy and underscores the Saudi market’s advanced standing among international investors, supporting liquidity in the real estate finance market and helping raise home-ownership rates among Saudi families.”
