Saudi Mortgage Market Boosted By U.S. Investment Deals

This is gaining momentum for Saudi Arabia’s mortgage market, with the Saudi Mortgage Guarantees Company, Damanat, having just signed strategic deals with leading US firms BlackRock and Apollo. This will help attract more foreign investment in the sector while scaling up mortgage guarantee services and opening new investment opportunities for local and international investors.

Hossam Y. Radwan, Damanat’s Chief Executive Officer, emphasized that these agreements proved the company’s work in driving growth within the Saudi mortgage real estate market and attracting foreign investment. “And,” he added, “the role of Damanat in enabling beneficiaries’ journeys through innovative solutions towards shaping the future of Saudi Arabia real estate financing sector.”

These deals follow Majed bin Abdullah Al Hogail, Minister of Municipalities and Housing and Chairman of the Real Estate Development Fund, launching the off-plan sales (OPDG) projects, which represented the first steps towards establishing the Kingdom’s first mortgage market.

Damanat’s proactive effort aligns with the goals of Saudi Vision 2030, achieving financial, economic, and social sustainability. Facilitating access to mortgage financing and encouraging foreign investment, the House of Damanat certainly plays a key role in driving growth and development in the Saudi Real estate market.