Under the Patronage of the Minister of Municipal and Rural Affairs and Housing: Agreement to Establish an Advanced Mortgage Finance Platform

Rhea-AI Summary

REDF, SRC and LCM Partners (BAM) signed a tripartite partnership on November 17, 2025 to establish an advanced mortgage finance and servicing platform in Saudi Arabia. LCM, via affiliate BCM Global, will provide independent mortgage servicing and will become a shareholder in the National Support Company for Finance Services through issuance of new shares. The initiative aims to bolster Saudi housing finance, support Vision 2030 and expand data-driven asset and operations management.

Insights

Financial structuring expert

Tripartite deal introduces an international private‑credit shareholder and creates a national mortgage servicing and asset platform.

The partnership names REDF, SRC, and LCM Partners and includes LCM taking equity via new shares in the National Support Company for Finance Services, which creates a clear corporate channel for capital, governance and operational control over mortgage servicing and asset management.

Key dependencies and risks include the share issuance mechanics, governance rights attached to the new shares, and the scope of BCM Global’s servicing mandate; these will determine how much control and cashflows shift to private investors versus public entities. Monitor the exact share dilution terms and any regulatory approvals tied to the transfer of servicing rights over the next 6–12 months.

Housing finance operations expert

The agreement aims to build a data‑driven, multi‑purpose servicing platform to support mortgage operations and housing‑finance sustainability.

The initiative positions LCM Partners (via BCM Global) as the provider of independent mortgage servicing, while REDF and SRC retain sponsor roles; this separates servicing expertise from fund ownership and can improve operational efficiency and borrower servicing quality if implemented as described.

Operational success depends on technology transfer, data access and integration, and regulatory alignment with the Housing Program and Vision 2030; watch onboarding milestones, servicing SLAs, and the platform’s first 12 months of portfolio performance as concrete near‑term indicators.

A partnership including: REDF, SRC LCM Partners

LONDON, Nov. 17, 2025 /PRNewswire/ -- Under the patronage and presence of His Excellency Mr. Majed bin Abdullah Al-Hogail, Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of the Real Estate Development Fund, the Real Estate Development Fund (REDF) and the Saudi Real Estate Refinance Company (SRC), announced the signing of a tripartite partnership with LCM Partners.

LCM Partners is one of Europe's leading private credit investment firms and a member of Brookfield. Through LCM's affiliate, BCM Global, it will deliver independent mortgage servicing to create a partnership which aims to establish a world-class, multi-purpose platform for asset and servicing management in the Kingdom of Saudi Arabia.

The agreement was signed by Eng. Loaye Al-Nahedh, CEO of REDF; Mr. Majid bin Fahd Al-Abduljabbar, CEO of SRC; and Mr. Paul Burdell, CEO of LCM Partners.

This partnership comes within the framework of strengthening the Saudi housing-finance ecosystem by developing advanced, data-driven operational solutions and implementing a global model for asset and financial-operations management. It further supports the objectives of Saudi Vision 2030 and the Housing Program to enable Saudi families to own suitable homes and ensure the sustainability of the housing finance sector.

Under this strategic initiative, LCM Partners will become a shareholder in the National Support Company for Finance Services through the issuance of new shares. 

His Excellency Mr. Majed bin Abdullah Al-Hogail, affirmed:  "This partnership represents a new phase in the development of the housing-finance ecosystem and reflects effective integration between the public and private sectors. He noted that it highlights the attractiveness of the Saudi market to international investors and confirms confidence in the strength and resilience of the Saudi economy."

Eng. Loaye Al-Nahedh, CEO of REDF, stated: "This partnership extends the Fund's efforts to promote financial sustainability and expand homeownership options through strategic collaborations that support national economic growth and innovation in the real-estate sector. The agreement will help improve asset management efficiency and the quality of services provided to beneficiaries."

Majid Al-Abduljabbar, CEO of SRC, highlighted: "The agreement is an important step toward developing supportive financing products and improving the quality of financing services within the Saudi real estate market. This partnership adds another cornerstone in building an integrated and sustainable financing ecosystem."

Bruce Flatt, CEO of Brookfield Asset Management, commented: "We are proud of our long-standing partnership with LCM Partners and their continued success in bringing best-in-class credit and servicing capabilities to new markets. The Kingdom of Saudi Arabia is one of the most dynamic and forward looking economies in the world and this initiative aligns well with Brookfield's commitment to investing in the region's real estate and financial infrastructure for the long term."

Paul Burdell, CEO of LCM Partners, expressed his pleasure in strengthening cooperation with the Kingdom, saying: "Since our first collaboration seven years ago, our partnership with the Kingdom has been built on trust, continuity and shared ambition. Today's announcement marks a new chapter; the creation of a world class servicing platform that will support the next phase of growth in the housing and credit markets." Burdell added that the company's long-term commitment to the Kingdom reflects its confidence in the growth of Saudi Arabia's financial and real estate sectors.

About LCM Partners

LCM Partners has been a member of Brookfield since 2018.  LCM has been investing in credit since 1999 and the team's experience stretches across asset management, investment banking, strategic consulting, M&A and business intelligence. As pioneers of European consumer and SME credit, the core senior management team has been in place for over 22 years.

About Brookfield 

Brookfield Asset Management Ltd. (NYSE: BAM, TSX, BAM) is a leading global alternative asset manager, headquartered in New York, with over $1 trillion of assets under management across infrastructure, renewable power and transition, private equity, real estate, and credit. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors. We draw on Brookfield's heritage as an owner and operator to invest for value and generate strong returns for our clients, across economic cycles. For more information, please visit our website at www.brookfield.com.

LCM Partners Media Relations:

Alison Swonnell
aswonnell@lcmpartners.eu
https://lcmpartners.eu/ 

Brookfield Media Relations:

Rachel Wood
Rachel.wood@brookfield.com 

View original content:https://www.prnewswire.com/news-releases/under-the-patronage-of-the-minister-of-municipal-and-rural-affairs-and-housing-agreement-to-establish-an-advanced-mortgage-finance-platform-302617732.html

SOURCE LCM Partners

FAQ

What did REDF, SRC and LCM Partners announce on November 17, 2025 regarding BAM?

They announced a tripartite partnership to build a mortgage finance and servicing platform and that LCM will acquire new shares in the National Support Company for Finance Services.

How will the November 17, 2025 partnership affect mortgage servicing in Saudi Arabia (BAM)?

LCM, through BCM Global, will deliver independent mortgage servicing to create a world-class asset and servicing management platform.

Does the November 17, 2025 agreement involve a change in ownership for the National Support Company for Finance Services (BAM)?

Yes; the agreement states LCM Partners will become a shareholder via issuance of new shares.

Which officials signed the November 17, 2025 agreement involving BAM?

Eng. Loaye Al-Nahedh (REDF CEO), Majid bin Fahd Al-Abduljabbar (SRC CEO), and Paul Burdell (LCM CEO) signed the agreement.

What strategic objectives did the November 17, 2025 partnership cite for the BAM initiative?

The partnership aims to strengthen the housing-finance ecosystem, enable homeownership, improve asset management efficiency, and support Saudi Vision 2030.

Will the November 17, 2025 partnership bring international expertise to Saudi housing finance (BAM)?

Yes; LCM Partners, a European private credit firm and Brookfield affiliate, will bring servicing and credit capabilities to the Kingdom.