The Real Estate Developers Services Center “Etmam” signed a memorandum of understanding with “Deutsche Gulf Finance”, as part of its continuous efforts to raise the efficiency of its services, accelerate the pace of work for residential projects, increase the volume of investment in the real estate sector, and add joint electronic services; To facilitate the work of real estate developers through the “Etmam” platform, with the aim of facilitating the procedures of real estate development work to contribute to the development of the sector and raise its contribution to the local product.
The agreement was signed by Eng. Mosaed Al-Otaibi, General Manager of the Real Estate Developers Services Center, “Etmam”, and by Deutsche Gulf Finance, CEO, Mohammed Al-Duweesh.
The memorandum of understanding aims to enhance ways of cooperation between the two parties to provide electronic services through the “Etmam” platform, to enable real estate developers to open an escrow account for off-plan sales projects and apply for financing for licensed projects.
The Director General of “Etmam” Center explained that the signing of the memorandum of understanding with “Deutsche Gulf Finance” comes as a continuation of the Center’s efforts to improve services and overcome obstacles for real estate developers, and to emphasize the role of “Etmam” in facilitating the establishment of real estate projects in the Kingdom and creating an attractive environment for investments in the real estate sector. From inside and outside the Kingdom, to increase the real estate supply of housing units and facilitate Saudi families’ access to adequate housing, as part of the Center’s efforts to achieve the goals of the Housing Program – one of the Vision 2030 programs – to increase the proportion of housing ownership for Saudi families to 70% by 2030.
It is noteworthy that the center provides a unified platform and an advanced electronic digital portal that contains all the services needed by the real estate developer, which enables him to obtain services easily and with high reliability, in addition to establishing the principle of transparency by clarifying the procedures associated with services and providing all data and statistics that real estate developers can benefit from.