Latest news with #SRC
Zawya
2 days ago
- Business
- Zawya
SRC signs portfolio acquisition deal with Arab National Bank
Saudi Real Estate Refinance Company (SRC), a PIF company, has signed a new agreement with Arab National Bank to acquire a real estate finance portfolio. The agreement was signed in the presence of Majid bin Abdullah Al-Hogail, Minister of Municipalities and Housing and Chairman of the Board of the Saudi Real Estate Refinance Company, and Eng Salah Rashid Al-Rashed, Chairman of the Board of Arab National Bank. The agreement marks an extension of the strategic partnership between the two parties and reaffirms their shared commitment to supporting the growth and sustainability of the real estate finance market in the kingdom, said a statement. It aims to enhance liquidity for lenders and enables home ownership among citizens through advanced financing solutions that align with the objectives of the Housing Program under Saudi Vision 2030, contributing to the target of achieving 70% home ownership. Majeed Fahd Al-Abduljabbar, CEO of the Saudi Real Estate Refinance Company, said the agreement reflects the shared vision with Arab National Bank to enable home ownership among citizens by establishing a more efficient and sustainable secondary real estate finance market. It aligns with the ambitions of the coming phase and enhances the sector's appeal to both local and international investors. Obaid bin Abdullah Al-Rasheed, CEO of Arab National Bank, stated that the partnership with the Saudi Real Estate Refinance Company is a strategic step within the bank's ongoing efforts to provide innovative financing solutions that drive market growth and sustainability. He expressed confidence that this collaboration will contribute to establishing a strong and effective real estate market built on efficiency and trust. The agreement comes as part of a series of initiatives led by the Ministry of Municipalities and Housing to enhance citizen empowerment and build an integrated, stable financing environment that advances the Kingdom toward achieving both housing and economic objectives. SRC was established by the Public Investment Fund (PIF) in 2017 to develop Saudi Arabia's real estate finance market. It operates under a licence from the Saudi Central Bank (SAMA) to facilitate real estate refinancing. SRC plays a key role in achieving the objectives of the Housing Program under Saudi Vision 2030, which aims to increase homeownership rates among Saudi citizens. The company supports this goal by providing liquidity to lenders, enabling them to offer affordable real estate finance to individuals. Additionally, SRC works closely with partners to strengthen Saudi Arabia's housing ecosystem, said the statement. Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
2 days ago
- Business
- Zawya
The Saudi Real Estate refinance Company signs a portfolio acquisition agreement With Arab National Bank
Riyadh, KSA – The Saudi Real Estate Refinance Company (SRC), a PIF company, has signed a new agreement with Arab National Bank to acquire a real estate finance portfolio in the presence of His Excellency Majid bin Abdullah Al-Hogail, Minister of Municipalities and Housing and Chairman of the Board of the Saudi Real Estate Refinance Company, and Eng. Salah Rashid Al-Rashed,Chairman of the Board of Arab National Bank. This agreement marks an extension of the strategic partnership between the two parties and reaffirms their shared commitment to supporting the growth and sustainability of the real estate finance market in the Kingdom. It aims to enhance liquidity for lenders and enables home ownership among citizens through advanced financing solutions that align with the objectives of the Housing Program under Saudi Vision 2030, contributing to the target of achieving 70% home ownership. Majeed Fahd Al-Abduljabbar, CEO of the Saudi Real Estate Refinance Company, affirmed that the agreement reflects the shared vision with Arab National Bank to enable home ownership among citizens by establishing a more efficient and sustainable secondary real estate finance market. It aligns with the ambitions of the coming phase and enhances the sector's appeal to both local and international investors. Obaid bin Abdullah Al-Rasheed, CEO of Arab National Bank, stated that the partnership with the Saudi Real Estate Refinance Company is a strategic step within the bank's ongoing efforts to provide innovative financing solutions that drive market growth and sustainability. He expressed confidence that this collaboration will contribute to establishing a strong and effective real estate market built on efficiency and trust. The agreement comes as part of a series of initiatives led by the Ministry of Municipalities and Housing to enhance citizen empowerment and build an integrated, stable financing environment that advances the Kingdom toward achieving both housing and economic objectives. The Saudi Real Estate Refinance Company (SRC) was established by the Public Investment Fund (PIF) in 2017 to develop Saudi Arabia's real estate finance market. It operates under a license from the Saudi Central Bank (SAMA) to facilitate real estate refinancing. SRC plays a key role in achieving the objectives of the Housing Program under Saudi Vision 2030, which aims to increase homeownership rates among Saudi citizens. The company supports this goal by providing liquidity to lenders, enabling them to offer affordable real estate finance to individuals. Additionally, SRC works closely with partners to strengthen Saudi Arabia's housing ecosystem.
Scotsman
3 days ago
- Business
- Scotsman
Scottish shopper footfall in decline but one city bucks the trend
'Whilst the figures are an improvement on June's poor figures there is little to celebrate' – Ewan MacDonald-Russell, SRC Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Scotland has seen a 'disappointing' fall in the number of shoppers visiting high streets with only Edinburgh managing to buck the trend, figures today suggest. Overall Scottish footfall decreased by 1.3 per cent last month, compared with July 2024, according to the latest data from the Scottish Retail Consortium (SRC) and Sensormatic. However, that was an improvement on June's 3 per cent year-on-year slump. Advertisement Hide Ad Advertisement Hide Ad A breakdown of the figures shows that shopping centre footfall decreased by 0.1 per cent in July, improving on a 1.8 per cent decline in June. Retail park visits nudged up 0.4 per cent in July, compared with the previous month's 3.7 per cent slide. The disappointing Scottish retail footfall figures came despite the sunny weather in July. In July, footfall in Edinburgh increased by 0.6 per cent, year on year, while footfall in Glasgow fell by 1.5 per cent. Ewan MacDonald-Russell, deputy head of the SRC, said: 'Scottish retail footfall continued to disappointingly dip despite the sunny weather in July. Whilst the figures are an improvement on June's poor figures there is little to celebrate as retailers have to try to increase sales in store despite fewer visitors. 'Edinburgh bucked the trend slightly with a positive return driven by international visitors to the capital, whilst Glasgow was pretty much in line with the national average. Retail parks and shopping centres were broadly flat showing both are still attractive options for consumers.' Advertisement Hide Ad Advertisement Hide Ad He added: 'A year after the General Election, it's hard to find evidence of much growth in the everyday economy. A new UK government promised to focus on the economy but it's hard to find even green shoots of prosperity. 'With government-imposed costs skyrocketing and shoppers staying away it already looks like things will remain very tough for Scotland's retailers this summer.' Andy Sumpter, retail consultant for Sensormatic Solutions, said: 'Total retail footfall remains stubbornly negative in Scotland. Events such as the Oasis tour in England in July did give local uplifts in foot-traffic, which now heads to Edinburgh for August, along with the Fringe. 'The early July heatwave may have lifted leisure footfall more than retail, while one year into a new Labour government, consumer sentiment remains cautious. The underlying footfall trend may be improving, but this is still negative growth on negative 2024 figures - raising the question: are shoppers returning, or simply shopping around more as they try to spend less?
Scotsman
3 days ago
- Business
- Scotsman
Scottish shopper footfall in decline but one city bucks the trend
'Whilst the figures are an improvement on June's poor figures there is little to celebrate' – Ewan MacDonald-Russell, SRC Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Scotland has seen a 'disappointing' fall in the number of shoppers visiting high streets with only Edinburgh managing to buck the trend, figures today suggest. Overall Scottish footfall decreased by 1.3 per cent last month, compared with July 2024, according to the latest data from the Scottish Retail Consortium (SRC) and Sensormatic. However, that was an improvement on June's 3 per cent year-on-year slump. Advertisement Hide Ad Advertisement Hide Ad A breakdown of the figures shows that shopping centre footfall decreased by 0.1 per cent in July, improving on a 1.8 per cent decline in June. Retail park visits nudged up 0.4 per cent in July, compared with the previous month's 3.7 per cent slide. The disappointing Scottish retail footfall figures came despite the sunny weather in July. In July, footfall in Edinburgh increased by 0.6 per cent, year on year, while footfall in Glasgow fell by 1.5 per cent. Ewan MacDonald-Russell, deputy head of the SRC, said: 'Scottish retail footfall continued to disappointingly dip despite the sunny weather in July. Whilst the figures are an improvement on June's poor figures there is little to celebrate as retailers have to try to increase sales in store despite fewer visitors. 'Edinburgh bucked the trend slightly with a positive return driven by international visitors to the capital, whilst Glasgow was pretty much in line with the national average. Retail parks and shopping centres were broadly flat showing both are still attractive options for consumers.' Advertisement Hide Ad Advertisement Hide Ad He added: 'A year after the General Election, it's hard to find evidence of much growth in the everyday economy. A new UK government promised to focus on the economy but it's hard to find even green shoots of prosperity. 'With government-imposed costs skyrocketing and shoppers staying away it already looks like things will remain very tough for Scotland's retailers this summer.' Andy Sumpter, retail consultant for Sensormatic Solutions, said: 'Total retail footfall remains stubbornly negative in Scotland. Events such as the Oasis tour in England in July did give local uplifts in foot-traffic, which now heads to Edinburgh for August, along with the Fringe. 'The early July heatwave may have lifted leisure footfall more than retail, while one year into a new Labour government, consumer sentiment remains cautious. The underlying footfall trend may be improving, but this is still negative growth on negative 2024 figures - raising the question: are shoppers returning, or simply shopping around more as they try to spend less?
7NEWS
3 days ago
- 7NEWS
Market research interviewer Chrissy Purdy reveals real story behind SRC sacking over call likening respondent to serial killer Ivan Milat
A market research interviewer sacked after calling a survey respondent a 'joker' and likening them to Ivan Milat says there's more to the story, and that she never should've lost her job. Chrissie Purdy, a 66-year-old Melburnian, was fired by The Social Research Centre (SRC) in August 2024 following a heated phone exchange with a member of the public. The call took place on July 29, 2024, when Purdy rang a member of the public to conduct a survey on behalf of the SRC. A recording of the conversation captured her making a series of confrontational and personal remarks. The call that cost the job 'You are going to give me rubbish answers aren't you,' the transcript recorded her as saying. 'We don't have to do the survey — obviously I don't want to do it with you.' Purdy was recorded making a string of personal comments. 'You sound like an obnoxious teenager who is bored and using us for entertainment,' she claimed. 'If you are that stupid that you're going to tell people those [personal] details ... [laughs] — Seriously! 'You're a joker aren't you. You're a joker, aren't you? 'I'd rather speak to a nice person that lets me finish a sentence. 'You just want to screw me around.' At one point, she compared the respondent to Australia's most notorious serial killer Ivan Milat, who murdered seven backpackers in the 1990s. 'Ivan Milat? You know he was diagnosed as a psychopath and I think you are too,' she said over the phone. Milat, known as Australia's most prolific serial killer, infamously kidnapped and murdered at least seven young backpackers between 1989 and 1992, dumping their bodies in Belanglo State Forest. Toward the end of the call, she appeared to defend herself, saying: 'Why would I give you my surname? Are you going to stalk me, are you?' 'I've been doing this for 15 years and I'm going to go now. Bye,' she said, before hanging up the phone. The SRC said Purdy's conduct amounted to serious misconduct and breached company policy, and fired her. 'Out of context' Purdy argued the excerpt was 'out of context', as it didn't capture what the man was saying to her. 'It was a seven-minute call — five minutes of me staying professional and trying to calm him down, because he just kept talking over me,' she told She said the man appeared convinced she was a scammer, despite her explaining she was conducting the survey on behalf of a legitimate client — primarily health departments and other government agencies. 'It sounded like he thought it was his civic duty to tell off a scammer. So, he kept me on the phone to abuse me,' Purdy said. When she told him that if he didn't want to do the survey she could hang up, he allegedly became aggressive, repeatedly saying: 'Don't you dare hang up on me, I'm not done with you.' Fearing the man might contact her company's client to complain — which she said would have been 'the worst thing' — Purdy said she tried to remain polite throughout the call. 'I thought, do I have to sit here and suck this up and just put up with him yelling at me?' Eventually, she lost patience. 'The last two minutes I lost my patience and I ... got a bit sarcastic,' she said. Purdy said the man kept accusing her of trying to get his personal details, and wouldn't let her speak. 'I wanted to tell him that scammers ask for names, addresses, bank numbers, credit cards — and we don't do any of that. But I couldn't get a word in, he just kept talking over me.' According to Purdy, the man then said: 'You're gonna ask me my name, you're gonna ask me my details.' When she denied it, he replied: 'Alright then, I'll tell you. My name is Ivan Milat.' That, she said, prompted her to respond: 'Ivan Milat? You know he was diagnosed as a psychopath and I think you are too.' 'So, there was a lot that I did say, but my employers just took out the bits they thought were the worst,' Purdy said. Too late for justice In 16 years at the SRC, Purdy says it was only the third time she had dealt with such an aggressive respondent. In previous cases, a supervisor would typically step in. Purdy assumed this situation would be handled the same way — until her name never appeared on the roster again. The FWC's report recorded she was in denial about being let go and thought the SRC would eventually call her back for more shifts. That didn't happen. She was let go at 65 — just two years shy of qualifying for the full pension — which she said 'really annoyed' her. As a divorced woman with no children, the job was her lifeline. Looking back, Purdy said she now regrets taking that shift — she was still grieving her mother's death two months earlier and was caught up in a stressful family dispute at the time. But with shifts already being cut back, she said she couldn't afford to cancel any work. Emotionally and mentally drained, she did not pursue any action until 'things finally settled' in May this year. She filed an unfair dismissal application with the FWC in June, but what she did not realise was — it was too late. The application came 295 days, or nearly 10 months, after she was let go. 'Unfair dismissal applications are required to be made within 21 days of the dismissal taking effect,' the FWC decision stated. The commission acknowledged it's common for people to be unaware of the time limit, but ultimately dismissed her other reasons for the delay. As a result, her claim was struck out, and she failed to get her job back. Struggling, but hopeful Now 66, Purdy says the fight to find work again feels even harder. 'Who's gonna hire a 66-year-old now? I've been applying for jobs. They ask you about your birth date, and then you never hear from them.' 'No one will admit to ageism in the workforce, but that is what's going on.' Despite struggling financially and having no immediate family to lean on, she hopes her case can serve as a reminder to others about the 21-day cut-off. She's still holding on to hope. 'I'm struggling right now, but in a year's time, everything will be all right when I get on the full pension,' she said. The SRC has been contacted for comment. Based in Melbourne, the SRC is a social research provider owned by the Australian National University. It conducts large-scale survey and evaluation work for government departments and academic institutions. While the organisation frequently conducts legitimate surveys on behalf of government and other institutions, it has received a low rating of 1.9 on Google Maps, with many reviewers describing its calls as spam or alleging scam-like behaviour.
