The partnerships include collaborations with major global firms such as BlackRock, which will play a crucial role in enhancing the Saudi mortgage-backed securities market. BlackRock plans to introduce investment strategies specifically for the Saudi market, creating a new asset class in line with Vision 2030's goals. The initiative is expected to bolster local and international investor confidence, increasing the liquidity and financing capacity of Saudi housing-related capital markets.
Damanat’s CEO, Radwan, emphasized that these strategic moves are geared toward sustainable development within the Kingdom’s real estate financing sector, aligning with broader economic diversification goals under Vision 2030. The partnership with BlackRock is particularly notable as it includes launching Saudi mortgage-related investment funds, which are expected to attract substantial foreign capital inflows and promote the growth of local fixed-income markets.
These agreements mark a significant step forward for Saudi Arabia's financial sector, positioning the Kingdom as a growing hub for mortgage-backed securities and attracting global investment to its housing market.