Chairman’s Letter

During the year 2024, despite the continuing regional and global challenges, JMRC was able to continue achieving its strategic objectives successfully in providing medium and long-term financing to banks and financial institutions granting real estate and housing loans. It achieved this by securing the necessary financial resources to support its lending activity through its various sources of funds, most notably the proceeds of its bond issuances in the local capital market. This company remains the result of a clear embodiment of the concerted efforts between the public and private sectors to serve the housing sector, JMRC was established by an initiative from the government with the support of the Central Bank to develop the sector, which is considered a basic pillar in the national economy, moreover, JMRC plays a strategic role in linking the money market with the capital market.
Inflationary pressures continued to exist globally until the third quarter of 2024, then began to gradually decline in the last quarter, heralding the beginning of a new phase characterized by following an easing monetary policy. In the midst of this landscape, JMRC was able during 2024 to grant refinance loans in the amount of (168) million dinars, thus the total value of loans granted by JMRC since inception reached (2.515) billion dinars, the outstanding balance of refinance loans as of 31/12/2024 was (407.5) million dinars, which reflects the company's continued support for the housing sector and enhances the stability of the real estate finance market in the Kingdom.The company also issued bonds worth (155) million dinars in the local capital market, which raised the total value of the bonds issued by JMRC since inception to (2.589) billion dinars, the outstanding balance of JMRC's issuances reached (384.5) million dinars as of 31/12/2024 which confirms the company's commitment to providing sustainable financing to support the housing sector.