The Saudi Mortgage Guarantees Services Company “Damanat” Appoints Eng. Loaye Al-Nahedh as Chairman of the Board

The Saudi Mortgage Guarantees Services Company “Damanat” announced the issuance of a decision appointing His Excellency Eng. Loaye Al-Nahedh as Chairman of the Company’s Board of Directors. This strategic appointment reflects Damanat’s direction toward strengthening institutional governance and supporting its mission to empower the housing finance ecosystem, in alignment with the objectives of the Housing Program and Saudi Vision 2030. Eng. Al-Nahedh currently serves as Chief Executive Officer of the Real Estate Development Fund and brings more than 20 years of professional experience in executive leadership, business development and institutional transformation. Throughout his career, he has worked across diverse sectors and led several strategic initiatives with significant national impact. He has held a number of prominent leadership positions, including Founder and Chief Executive Officer of several companies. Prior to this he was a Management Consultant at McKinsey & Company for seven years and he has also contributed to leading major institutional transformation and strategic development projects at both the local and international levels. In the field of governance and institutional participation, Eng. Al-Nahedh has served on several key boards and committees, including the Housing Program Supervising and Steering committees, Board of Directors of REDF, Board Member of Southern Province Cement Company and Chairman of the Audit Committee at Al-Raidah Financial Company, reflecting his deep expertise in governance, risk management, and financial oversight. Eng. Al-Nahedh holds a Master of Business Administration (MBA) from Queen’s University in Canada and a Bachelor’s degree in Electrical Engineering from King Fahd University of Petroleum and Minerals, combining a strong engineering background with advanced managerial expertise. Damanat affirmed that this appointment comes as part of its efforts to strengthen its role as a key national enabler within the housing ecosystem by providing innovative guarantee solutions that enhance the efficiency and sustainability of housing finance, empower citizens to achieve homeownership, support the real estate development sector, and boost confidence in the residential real estate market. The company also expressed its anticipation that Eng. Loaye Al-Nahedh’s leadership and strategic expertise will contribute to supporting the Board’s work, leading the company through its next phase of growth, and enhancing its contribution to achieving national objectives.

The Financial Academy and “Damanat” Sign an Agreement to Develop Competencies and Enhance Knowledge in Bank Guarantees

Under the patronage of His Excellency Mr. Mohammed bin Abdullah Elkuwaiz, Chairman of the Capital Market Authority, the Saudi Mortgage Guarantee Services Company “Damanat” signed an agreement with the Financial Academy during the Financial Academy Forum 2025. The agreement aims to strengthen cooperation in developing human capabilities and building specialized knowledge in the field of bank guarantees and guarantee solutions, contributing to the goals of Saudi Vision 2030. The agreement was signed in the presence of executives from both sides and several representatives from the financial and housing sectors. The partnership seeks to develop Damanat’s employees through specialized annual training programs and to contribute to advancing the financial sector by enhancing awareness and improving the professional skills of employees in banks, financing institutions, and the real estate development sector. The agreement focuses on designing and implementing training programs and awareness workshops in the fields of bank guarantees and guarantee solutions, thereby improving the efficiency of the financial ecosystem and supporting sustainable growth in the finance and housing sectors. The CEO of “Damanat” emphasized that this partnership stems from the company’s belief in the importance of building national capabilities and fostering collaboration with specialized entities to develop the guarantee environment in the Kingdom. Meanwhile, the CEO of the Financial Academy stated that this agreement represents an important step toward empowering Saudi talents with knowledge and expertise in bank guarantees, supporting the advancement of the financial sector in alignment with the objectives of the Financial Sector Development Program — one of the key initiatives under Vision 2030. Riyadh | 08-10-2025

ANB Partners with “Damanat” to Enhance Housing Program and Broaden Real Estate Financing Options in Saudi Arabia Arabia

Arab National Bank (anb) and the Saudi Housing Guarantee Services Company (Damanat) have signed a Memorandum of Understanding (MoU), which reflects their joint efforts to enhance the real estate financing and housing sectors in Saudi Arabia. The agreement was signed by Mr. Louai Alzaher, Chief Wholesale Bank Officer at anb, and Mr. Osama AlOthman, CEO of Damanat, in the presence of senior executives from both parties. This MoU is aimed at their collaborative efforts to fulfill the Housing Program goals laid out in Vision 2030. It provides an operational framework centered on a sustainable growth strategy to enhance real estate financing options for off-plan sales aimed at developers and individuals while supporting market stability. The initiative will be realized by creating and executing innovative solutions designed to speed up project implementation and boost the availability of residential units, contributing significantly to increasing homeownership rates among Saudi citizens in alignment with the aspirations of Vision 2030. The MoU outlines plans for delivering technical and technological assistance to develop real estate financing guarantee products, enhancing their accessibility and management. It aims to facilitate access to diverse and appropriate real estate financing solutions tailored to a broad spectrum of beneficiaries with different financial capacities. Additionally, both parties are committed to promoting off-plan residential project sales and undertaking vital studies and evaluations to confirm the effectiveness and market relevance of the offerings. On this occasion, Mr. Louai Alzaher emphasized that anb is committed to strengthening its partnerships with leading institutions to support economic development in the Kingdom, provide financing solutions that meet customer aspirations, and contribute to the realization of Vision 2030. This commitment stems from anb’s vital role in enabling citizens to own homes and increasing homeownership rates in accordance with the Vision 2030 objectives. Mr. Osama AlOthman highlighted that this partnership marks a strategic move to deliver sustainable and innovative financing solutions in the housing sector, ultimately aiming to boost homeownership rates among citizens. This agreement demonstrates both parties’ dedication to supporting Saudi Vision 2030, aiding the Housing Program’s goals, and ensuring a satisfactory standard of living for citizens.

Signing a Memorandum of Understanding Between “Damanat” & “Saudi Re” In The Field of Reinsurance “In support of the National Housing Program”

The Saudi Housing Guarantee Services Company “Damanat” and the Saudi Reinsurance Company (Re) signed a memorandum of understanding (MoU) aimed at strengthening cooperation between the two companies in the field of reinsurance for the real estate finance sector, in light of their ongoing efforts to support the National Housing Program and contribute to achieving its objectives. The MoU focuses on developing innovative risk management solutions, which enhances the growth and stability of the real estate finance sector, in addition to developing the financial sector as a whole. The agreement also includes providing the necessary technical support to develop insurance products and reinsurance services, including building pricing models, underwriting mechanisms, and efficient claims management. This cooperation comes within the framework of the two companies’ efforts to enhance compatibility with the aspirations of international investors and build strong Saudi-international partnerships that support risk management in the real estate finance sector During the signing of the agreement, Mr. Osama Al-Othman, CEO of “Damanat”, stressed the importance of this partnership, adding that it: “highlights the importance of cooperation between national companies to enhance the position of the insurance sector as a key factor in achieving financial stability for vital economic sectors, most notably the housing program, noting that the memorandum of understanding represents the beginning of a strategic partnership that supports the achievement of the Kingdom’s Vision 2030.” For his part, Mr. Ahmed Al-Jabr, CEO of “Re”, expressed: “The signing of this memorandum establishes a constructive relationship that unifies efforts and paves the way towards achieving sustainability in the insurance and real estate finance sector, adding that the company looks forward to working with “Damanat” to develop innovative solutions that support the insurance and real estate finance sectors.” This cooperation between “Damanat” and “Re” represents an important step towards enhancing cooperation between national companies and combining efforts to achieve the goals of the National Housing Program of the Kingdom’s Vision 2030, which aims to increase citizens’ home ownership, improve the quality of life, and achieve sustainable development.

Saudi Housing Guarantee Services Company Board of Directors Announces Appointment of Osama Abdul Latif Al-Othman as CEO

Riyadh, Saudi Arabia The Board of Directors of the Saudi Housing Guarantee Services Company announced the appointment of Mr. Osama Abdul Latif Al-Othman as the company’s CEO, in a strategic move aimed at enhancing its position and consolidating its leadership in the housing guarantee sector. Mr. Osama Al-Othman has over three decades of leadership experience in the fields of local, regional, and global investment and finance, along with extensive expertise in acquisitions and strategic expansion. He has played a pivotal role in project development and investment deal management, achieving significant successes in vital sectors including renewable energy, alternative investments, and fund management. Previous leadership positions: CEO of Aseer Investment Company. Head of Mergers and Acquisitions at Abu Dhabi Future Energy Company (Masdar), where he led an investment strategy valued at over USD 1 billion, contributing to enhancing the company’s global investment portfolio and increasing its production capacity by 50%, as well as opening new branches in Saudi Arabia and the USA. Regional Manager for Saudi Arabia and Dubai at First Solar Middle East, in addition to his role as Project Finance Manager for the Middle East and North Africa, where he led significant investment efforts, including divesting USD 150 million from Jordan’s Diamond Energy – Mitsubishi project, and contributed to the development of the photovoltaic industries in the Kingdom. Founder and CEO of Interactive Company. Executive Director and Founding Member at Evolvence Capital, where he led the expansion of the company’s investments and oversaw the establishment of an investment fund in India with assets amounting to USD 700 million. Experiences in Major Companies within the Kingdom: Saudi British Bank (SABB). Saudi Aramco. Samba Financial Group. Academic and Training Qualifications: Holds a Bachelor’s Degree in Industrial Management from King Fahd University of Petroleum and Minerals (1991).Completed the Executive Leadership Program at Harvard University (2018).Obtained a “Foundations of Management” certificate from the GCC Board Directors Institute.Obtained a “Leadership Excellence” certificate from London Business School. This appointment reaffirms the Saudi Housing Guarantee Services Company’s commitment to continuing its growth and development journey, leveraging distinguished leadership experiences to support its ambitious strategy and strengthen its role in achieving the goals of Saudi Vision 2030.

Damanat appoints Eng. Thamer bin Mohammed Yousef as Chief Operating Officer

Dawarat appoints Eng. Thamer bin Mohammed Yousef as Chief Operating Officer as Chief Operating Officer, in a move that reflects the company’s commitment to strengthening its leadership cadres with distinguished expertise. Eng. Thamer has more than 28 years of experience In the banking sector, where he has held several prominent leadership positions, including: Chief Executive Officer, Operations & Technology at Banque Saudi Fransi (BSF). Chief Technology Officer at Alawwal Bank (SAB). Chief Technology Officer at Alawwal Bank (SAB). Executive Director of the Technical Support Sector at the Saudi American Bank. Chief Executive Officer of Aseer Investment Company. Chairman of the Board of Directors of Sakan at Banque Saudi Fransi. Member of the Board of Directors of JB at Banque Saudi Fransi. Member of the JB Risk Management Board at Banque Saudi Fransi. Member of the Risk Management Board at Najm. عضو مجلس إدارة صناع التميز، ورئيس لجنة الترشيحات في المجلس ذاته. Eng. Thamer Yousef holds a Bachelor’s degree in Computer Engineering from King Saud University and completed the Executive Managers Program from INSEAD, leveraging his expertise in leading operational and strategic transformations. This appointment comes within the framework of Damanat’s efforts to drive innovation and develop its services in the housing guarantee sector. In line with the aspirations of the Saudi market and the Kingdom’s Vision 2030.

“Damanat” Contributes to Strengthening the Saudi Housing Sector during Cityscape Global Participation

The Saudi Housing Guarantee Services Company “Damanat” participated in the “Cityscape Global” real estate exhibition, held at the Riyadh Exhibition and Convention Center in Malham from November 11 to 14, 2024. The company’s booth witnessed significant attendance from visitors and those interested in housing finance, keen to learn about the latest innovative financing solutions that support homeownership in Saudi Arabia. Damanat was honored by the visit of His Excellency the Minister of Municipal and Rural Affairs and Housing, Mr. Majid bin Abdullah Al-Hogail, which confirms the continuous support efforts to achieve the goals of the Housing Program within the Kingdom’s Vision 2030. Damanat, wholly owned by the Real Estate Development Fund with a capital of SAR 18.6 billion, aims to enable Saudi citizens to achieve their dream of homeownership by providing real estate guarantees and innovative financing solutions to financial institutions, thereby facilitating their access and expanding the beneficiary segment. The focus is on supporting first-time homeownership and stimulating the development of housing projects on the map for real estate developers. Mr. Hossam bin Youssef Radwan participated in a panel discussion during the exhibition, highlighting the role of Damanat in supporting the housing goals of Vision 2030, primarily increasing the homeownership rate to 70% by 2030. Radwan also showcased the company’s main products and services and emphasized the importance of strategic partnerships that Damanat has established with leading global institutions such as BlackRock, King Street, Apollo, and the Saudi Real Estate Refinance Company, which contribute to driving innovation, attracting foreign investments, and ensuring the sustainability of the housing market in the Kingdom. Damanat confirms through this successful participation its commitment to supporting the development of the housing sector in the Kingdom and providing innovative and sustainable guarantee products that contribute to achieving well-being for all citizens.

Saudi Real Estate Refinance (SRC) and Damanat Sign a Memorandum of Understanding (MoU) to Guarantee Residential Real Estate Finance Portfolios

The Saudi Real Estate Refinance Company (SRC), a company of the Public Investment Fund (PIF), signed a memorandum of understanding (MoU) with the Public Investment Fund (PIF). On Sunday, October 6, 2024, a memorandum of understanding was signed with the Saudi Housing Guarantee Services Company “Damanat”, In order to ensure SRC’s residential real estate finance portfolios and acquired portfolios, This will then contribute to reducing the cost of financing for the target segments and increasing the number of beneficiaries of real estate financing. This was under the patronage of His Excellency the Minister of Municipalities and Housing and Chairman of the Board of Directors of the Saudi Real Estate Refinance Company, Mr. Majid bin Abdullah Al-Hogail. The MoU, which was signed by the CEO of the Saudi Real Estate Refinance Company, Majeed Fahad Al-Abdul-Jabbar, The CEO of Damanat Company, Hossam Radwan, is a key pillar in expanding the scope of financing coverage to include different segments of beneficiaries to obtain a more comprehensive real estate finance market from the beneficiary side. The MoU will also contribute to raising the attractiveness of the real estate finance market by developing the secondary market for real estate finance to support its growth and stability. Attracting more local and international investors by raising the creditworthiness of real estate finance portfolios owned by the Saudi Real Estate Refinance Company. The company is currently working with its partners to continue developing a secondary market that supports the real estate finance sector in the Kingdom. The CEO of the Saudi Real Estate Refinance Company confirmed, This MoU reflects our commitment to contribute to achieving the goals of Saudi Vision 2030 by strengthening the real estate finance market and increasing the percentage of Emirati home ownership. In addition to attracting more local and international investors. For his part, The CEO of Damanat said, The MoU comes within the framework of our endeavor to provide integrated financing solutions that enable large segments of the community to obtain real estate financing at an affordable cost. This enhances the opportunities for citizens to own their own homes, It contributes to the development of the real estate sector in the Kingdom. It is noteworthy that the Saudi Real Estate Refinance Company was established in 2017 by the Public Investment Fund as part of the government initiatives to achieve the goals of the housing program within the Kingdom’s Vision 2030, to be a key pillar to support the entire housing system in the Kingdom by injecting liquidity into the residential real estate finance market in the Kingdom in an effort to sustain and stabilize it. The company obtained a license from the Saudi Central Bank in 2017 to operate in the field of real estate refinancing. The Saudi Housing Guarantee Services Company “Damanat” – wholly owned by the Real Estate Development Fund – seeks to facilitate the journey of beneficiaries. This is done by providing innovative solutions and facilitated procedures to contribute to the sustainable development of the real estate finance sector.

Saudi Mortgage Guarantees Services Company (“Damanat”) and BlackRock Sign Framework Agreement to Collaborate on Developing Saudi Mortgage Investment Strategies and Funds

New York, United States Saudi Mortgage Guarantees Services Company (“Damanat”) has signed an agreement with BlackRock to develop Saudi mortgage-related investment strategies and funds, designed for participation by a diverse group of fixed-income investors.The signing took place in BlackRock’s New York headquarters in the presence of His Excellency, the Minister of Municipalities and Housing and Chairman of Real Estate Development Fund Majed bin Abdullah Al-Hogail and President of BlackRock Robert S. Kapito. The agreement was signed by the CEO of Damanat, Hossam Yousef Radwan, and the Managing Director, BlackRock Middle East and CEO of BlackRock Saudi Arabia, Yazeed Almubarak. This partnership aims to advance Damanat’s goal of developing mortgage guarantee products to enhance the securities market and attract foreign capital flows. Damanat, with its innovative and differentiated role as KSA’s provider of guarantees for mortgage-related assets, will partner with BlackRock on the launch of Saudi mortgage-related investment strategies and funds. Earlier this year, BlackRock announced plans to establish BlackRock Riyadh Investment Management (BRIM), which will encompass investment strategies across a range of asset classes for the Saudi market, including both public and private markets, managed by a Riyadh-based investment team. Earlier this year, BlackRock announced plans to establish BlackRock Riyadh Investment Management (BRIM), which will encompass investment strategies across a range of asset classes for the Saudi market, including both public and private markets, managed by a Riyadh-based investment team.Commenting on this, Damanat CEO Hossam Radwan said:“The Kingdom’s goal is to reach 70% home ownership by 2030. Through our guarantee solutions we continue to bridge the supply & demand gap within the real estate sector.“The agreement with BlackRock, will allow both local and international investors access to quality mortgage-backed fixed income funds and products, which will in turn enhance financing capacity within the local eco-system and also promote the development of local fixed income capital markets. As an enabler within the housing eco-system, creating such partnerships and development of new and innovative solutions for the Kingdom is an integral part of Damanat’s long-term strategy. With significant untapped opportunities for fixed-income investors awaiting market development. Damanat is playing an innovative and pivotal role as an enabler of investor interest in Saudi housing financing and growing the depth of mortgage-related capital markets. Damanat and BlackRock share the objective of enabling global institutional investors to participate in this growing, high-quality fixed-income asset class. Managing Director, BlackRock Middle East and CEO of BlackRock Saudi Arabia, Yazeed Almubarak said:“BlackRock is looking forward to partnering with Damanat in the evolution of Saudi Arabia’s housing-related capital markets. Securitized mortgage assets have the potential to become an important new asset class that further develops the asset management industry in KSA in line with the goals of Vision 2030, the Financial Sector Development Program and the Housing Program.” “BlackRock was founded as a mortgage-focused fixed income manager with a focus on innovation and entrepreneurial solutions. Since the establishment of our business in KSA, we have been driven with the same entrepreneurial approach and dedication, so we are honored to be playing a part in this important Vision 2030 initiative.” 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. Damanat seeks to contribute to achieving the goals of the Housing Program, and 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.

“Damanat” Launches First Product for Financing Real Estate Developers in Off-Plan Sales Projects

In support and empowerment of real estate developers, and to encourage them to increase the supply of housing units with quality solutions and suitable financing guarantees for various segments of society, His Excellency the Minister of Municipal and Rural Affairs and Housing, Mr. Majid bin Abdullah Al-Hogail, today launched Damanat’s first product for financing real estate developers for off-plan sales projects licensed by the Insurance Authority. This event was attended by the Chairman of the Board of Directors of the Saudi Housing Guarantee Services Company “Damanat”, Mr. Mansour bin Madi, the CEO of the Insurance Authority, Engineer Naji Al-Tamimi, and the CEO of Damanat, Mr. Hossam bin Youssef Radwan. The product represents one of the main enablers to facilitate citizens’ ownership of their first homes by supporting real estate developers to increase the supply of housing units with suitable financing guarantees for various segments. This contributes to accelerating the achievement of Housing Program goals in line with Saudi Arabia’s Vision 2030. The CEO of Damanat, Mr. Hossam Radwan, emphasized that the company is committed to providing suitable products that stimulate financial institutions and strengthen strategic partnerships. These efforts ensure risk reduction, which helps expand housing support to cover all regions of the Kingdom and meet the diverse needs of all societal segments listing the program’s features that enable a safe investment environment in off-plan sales projects. Radwan added that the product comes within Damanat’s commitment to activating its strategic plans and efforts to achieve its set targets by developing supporting products to stimulate the real estate finance sector in the Kingdom. This makes Damanat a significant contributor and active partner within the Kingdom’s housing system, doubling its contribution to providing affordable housing opportunities that meet the aspirations of housing seekers, enhancing financial inclusion, and supporting the national economy doubling its contribution to providing affordable housing opportunities that meet the aspirations of housing seekers enhancing financial inclusion and supporting the national economy. It is worth mentioning that the Saudi Housing Guarantee Services Company “Damanat”, wholly owned by the Real Estate Development Fund and established in 2023, seeks to establish the first mortgage market in the Kingdom, contributing to the sustainable development of the real estate finance sector in Saudi Arabia. This market reflects the active role played by the Housing Program providing integrated programs and diverse housing and financing options for citizens.

Infographic – Real Estate Developers Financing Guarantee Product

Radwan Hosts Bin Madi at #Damanat Booth During #Real_Estate_Future_Forum

The CEO of the Saudi Housing Guarantee Services Company “Damanat”, Mr. Hossam Radwan, welcomed the Chairman of the Board of Directors of “Damanat” and the CEO of the Real Estate Development Fund, Mr. Mansour bin Madi, at the company’s booth at the Real Estate Future Forum 2024. During the visit, Radwan and bin Madi reviewed the company’s activities and services, which focus on providing various guarantee products for financial institutions, real estate developers, and investors in the real estate sector. Additionally, the company’s efforts to support beneficiaries of housing support programs by providing guarantees to financial institutions, facilitating their access to the necessary financing to own suitable housing, were highlighted.