A closed joint stock company / Commercial Registration No.: 1010868250 / License Number: TMN/37/202307
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About Damanat
Saudi Real Estate Mortgage Guarantees Company “Damanat” was established as a closed joint stock company fully owned by the Real Estate Development Fund (REDF) with a capital of 18.6 Billion Riyals. On July 9th, 2023 Damanat was granted a license by the Insurance Authority.
Our Mission:
Damanat’s activities include mortgage guarantee products for individuals through our partners, off plan real estate development and insurance products
These products are designed to enhance the securities’ market, which will help provide financial instruments targeted to attract foreign capital inflows. This is in line with the objectives of Vision 2030 towards increasing homeownership in the Kingdom.
Our Partners
The housing system – financing agencies (institutions and financing companies)
Developing innovative solutions to enable and stimulate the finance and real estate development sector in the Kingdom.
Enable access to real estate finance for individuals and companies to stimulate and enhance economic and social stability through products that support the needs of target segments.
Message from the CEO
At Damanat, we acknowledge our national role in achieving the objectives of Saudi Vision 2030 for housing, contributing to developing a sustainable housing ecosystem.
In alignment with Saudi Vision 2030 and the leadership’s (may Allah protect them) commitment to prioritizing citizens, the Saudi Housing Guarantee Services Company “Damanat” recognizes its national duty to fulfill the Vision’s goals, especially in the housing sector. We strive to foster a sustainable housing environment that keeps pace with global progress.
Damanat’s vision centers on empowering a broader segment of citizens to acquire suitable housing. Our mission is driven by the benchmarks set by the National Housing Program, which aims to raise the rate of Saudi family homeownership to 70% by 2030. To achieve this, Damanat operates under a comprehensive strategy that enhances the efficiency of developing innovative financing solutions and products by providing guarantees to support the housing system. This includes expanding investment opportunities in the housing sector by attracting foreign investment and stimulating and supporting investment in real estate development.
Believing that investing in national talent is fundamental to success, Damanat is committed to fostering a motivating and attractive work environment that empowers national competencies and expertise to innovate and excel. We are all dedicated to serving as a bridge between investors and real estate investment opportunities by supporting partnerships and facilitating collaboration with local and regional entities. By leveraging global best practices, we strive to create a comprehensive and appealing investment climate, unlocking the full potential of economic growth in the housing sector and ensuring stability and prosperity for every Saudi citizen.
Osama Bin Abdul Latif Al-Othman
Chief Executive Officer
Board of Directors
Mansour bin Said bin Madi
Chairman of Board of Directors
Hani bin Medina Medina
Deputy Chairman of the Board
Khalid bin Ibrahim Shareef
Member of the Board of Directors
Faisal bin Omar Al-Saqqaf
Member of the Board of Directors
Hashem bin Othman Al-Haqeel
Member of the Board of Directors