A closed joint stock company / Commercial Registration No.: 1010868250 / License Number: TMN/37/202307
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About Damanat:
The Saudi Mortgage Guarantees Services Company “Damanat”
The Saudi Mortgage Guarantees Services 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.
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