His Excellency Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs, and Housing, launched the technical integration between the “Tatweer” program of of the Real Estate Development Fund and the "Etmam" platform ofReal Estate Developers Services Center ..
The technical integration enables real estate developers to access appropriate financing from financial institutions through "Tatweer" andthe Real Estate Developers Services Center platform “Etmam” with the aim of strengthening the complementary partnership between them, thereby contributing to the automation and acceleration of applications to benefit from "Tatweer" program services, in order to achieve the housing program’s objectives —one of the programs under the Kingdom’s Vision 2030—to increase the percentage of Saudi families owning their own homes to 70% by the end of 2030.
The CEO ofReal Estate Development Fund Mansour bin Madi explained that the technical integration with the “Etmam” platform aims to facilitate the process for institutions and companies in the real estate development sector to benefit from the financing services provided by the program in partnership with financial institutions, to build high-quality, competitively priced residential projects across the Kingdom that meet the needs and preferences of “Sakani” beneficiaries of housing support programs.
He noted that the technical partnership between “Tatweer” and “Etmam” will enable real estate development institutions and companies to submit applications to benefit from the program’s services electronically—with ease, convenience, and high accuracy—to obtain the necessary financing to develop and expand their activities, meet growing demand, and increase the real estate supply in all regions of the Kingdom.
It is worth noting that the "Tatweer" program, affiliated with of the Real Estate Development Fund is one of the programs designed to increase the real estate supply and foster competition among institutions and companies in the real estate development sector to promote balance in the local market, while the Real Estate Developers Services Center “Etmam” an integrated digital platform to streamline procedures for real estate developers and facilitate cooperation with a number of entities in the public and private sectors.
