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”
Established as a closed joint stock company providing real estate mortgage guarantees, with a capital of 18.6 billion riyals, and is the first company of its kind in the MENA. It is wholly owned by the Real Estate Development Fund licensed by the Insurance Authority, and is headquartered in the Kingdom of Saudi Arabia in the city of Riyadh.
Damanat seeks to contribute to achieving the goals of Vision 2030 by supporting the housing market to raise the percentage of Saudi families’ ownership of homes to 70%, and develop a secondary market for real estate mortgages in the Kingdom. The company provides mortgage guarantees to banks and financial institutions, insurance products and innovative solutions to individuals and corporate entities.
Our Vision
Participate in the growth of the real estate sector by providing innovative solutions that will directly contribute to increasing home ownership especially amongst the low income segment of the society.
Our Mission:
Damanat’s activities include mortgage guarantee products for individuals 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.
Solutions of
Guarantees:
Develop the secondary mortgage market to enhance the liquidity
Help attract foreign investors to the real estate sector in kingdom
Widen the home ownership to include the low income segment of the society