Housing Minister witnesses agreement signings with US companies

The signing ceremony

Minister of Municipalities and Housing Majid Al-Hogail witnessed the signing of an agreement in New York City between the Saudi Mortgage Guarantee Services Co. (Dhamanat), owned by the Real Estate Development Fund (REDF) and regulated by the Insurance Authority (IA), and US-based BlackRock.

The agreement focuses on developing strategies and investment funds for real estate financing to attract and diversify investments, enhancing market stability.

Dhamanat also signed an agreement with Apollo to expand the base of local and international investors, supporting the sustainable growth of the real estate market.

Additionally, the Saudi Real Estate Refinance Co. (SRC) signed an agreement with BlackRock to develop the real estate finance sector, expand the local and international investor base, and ensure market stability and diverse financing options.