Riyadh, November 21, 2025, SPA -- A memorandum of understanding (MoU) was signed to establish a strategic partnership framework between the Real Estate Development Fund (REDF), the Saudi Mortgage Guarantees Services Company (Damanat), the National Housing Company (NHC), and the Industrial and Commercial Bank of China Limited (ICBC) Riyadh branch. The MoU, signed under the patronage of Minister of Municipalities and Housing and REDF Board of Directors Chairman Majed Al-Hogail, aims to develop innovative financing and guarantee mechanisms that enable the real estate development sector to engage in EPC+F contracting with major Chinese contractors, while exploring joint opportunities to design and introduce new financing products and programs that enhance the sector’s capacity to implement housing projects efficiently. Through this collaboration, the parties seek to expand housing supply, stimulate both supply and demand, and develop financing and guarantee tools that strengthen the real estate development sector. The initiative also aims to facilitate citizens’ access to affordable financing options and promote the sustainability of real estate financing in a manner that supports market efficiency and advances national efforts to enable Saudi families to obtain suitable housing.
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