Majeed Al-Abduljabbar will assume the position of CEO at the Saudi Real Estate Refinance Co. on Jan. 1, 2024.
The board of directors of the company, which is entirely owned by the Public Investment Fund and led by Minister of Municipal, Rural Affairs and Housing Majed Al-Hogail, made this announcement.
Al-Abduljabbar is considered one of the leading executives in the Kingdom based on his extensive professional career of 26 years within the public and private sectors of the financial industry.
Al-Abduljabbar held various positions during his career. Most notably, he served as the director of risks at the Capital Markets Authority, and as a senior adviser to the chairman of the board for the Capital Market Authority, during which he worked on a number of initiatives within the authority’s plan and strategy in line with the objectives of the Kingdom’s Vision 2030.
Al-Abduljabbar was also part of the team that supervised Aramco’s public offering on the Saudi market. He also represented the Kingdom in several committees at the International Organization of Securities Commissions.
His professional journey included working in the banking sector for more than 15 years with local banks, including the treasury department at HSBC Bank in London, Samba, and Arab National Bank, also he contributed to establishing the Department of Innovative Investment Solutions at SABB, now SAB.
The Saudi Real Estate Refinance Co. was established in 2017 with the aim of helping transform the local housing market. The company obtained a license from the Saudi Central Bank to operate in real estate refinancing through the secondary market.
