PIF에서 사우디 부동산 재융자 회사에 돈을 800million 달러를 빌려줘서 모게이지 (집담보융자) 를 늘여서 사우디인들에게 집소유자들의 비율을 올리겠다는 뉴스입니다.  요즘 모든 펀딩은 PIF에서 나오는것 같네요. 전통적으로 사우디분들이 집을살때 은행의 융자를 받기보다는 현금으로 사왔다고 하네요. 그래서 그 부채비율을 늘여서 집의 소유권을 늘리겠다는게 핵심입니다. 

$800 million deal to boost Saudi home ownership 

DUBAI: A multimillion-dollar mortgage financing deal signed on Sunday is expected to fuel the drive toward increased Saudi homeownership, a core pillar of the Vision 2030 strategy.

The Saudi Real Estate Refinance Co. (SRC), an arm of the Public Investment Fund, will acquire mortgages worth SR3 billion ($800 million) from the Public Pension Agency (PPA), one of the main providers of pensions to government and military personnel.

“This agreement will help the liquidity in the market and help us provide more mortgages to people to buy homes,” PPA Gov. Mohammed Al-Nahhas said.

Under Vision 2030, the Kingdom targeted an increase in homeownership to 60 percent by the end of this year, but it is believed to have surpassed that target. The aim is 70 percent by the end of the decade.

Moves to increase homeownership in the past have faced challenges because of the comparatively low level of mortgage provision in Saudi Arabia, compared with other big economies, and the fact that home purchases have relied to a greater extent than elsewhere on cash deals.

SRC Chief Executive Fabrice Susini said the scale of the agreement with PPA illustrated “our commitment to exploring different avenues to help the citizens of Saudi Arabia climb the housing ladder.”

He added: “The deal provides liquidity to the real estate financing market, which in turn is expected to bring lower prices and increase the number of mortgage originations.”