Real Estate Development Fund and <a style="color: #993300;" href="http://www.monshaat.gov. and the General Authority for Small and Medium Enterprises (Monshaat) today signed a joint memorandum of understanding aimed at providing a general framework for joint cooperation to support entrepreneurs and SMEs working in the real estate development sector to increase their participation and contribution to achieving the targets of the housing program, one of the programs of Saudi Vision 2030.
The Fund was represented by the General Authority for Small and Medium Enterprises (SASME). During the signing, the Fund was represented by Vice President of the Finance and Investment Group, Tariq Al Musharraf, and on the side of Monsha'at, Sami bin Ibrahim Al Husseini, on the sidelines of Bipan23 in Riyadh.
The MoU aims to enhance cooperation between the two parties, exchange scientific and practical experiences, establish projects that will develop the entrepreneurship environment, support and activate entrepreneurial activities in the real estate development sector, in addition to holding awareness events for entrepreneurs and small and medium enterprises, according to the mechanisms and programs approved by each of them.
The CEO of Monshaat explained that the MoU was signed on the sidelines of the Bipan23 forum in Riyadh. <For his part, the CEO of <a style=”color: #993300;“ href=”https://amlak.net. Mansour bin Madi said that the MoU with Monshaat aims to enhance joint cooperation and harness the potential through the Tatweer program to increase the quantity and quality of the housing supply, in addition to providing innovative financing and housing options and opportunities for the beneficiaries of Sakani.“
Mansour bin Madi added. He added: ”The MoU will provide a mechanism that enables SMEs to benefit from the Tatweer program to expand their activities in the field of developing residential projects and encourage financial institutions to cooperate with them to achieve integration and increase the real estate supply in terms of establishing high-quality residential projects at competitive prices in various regions of the Kingdom."
It is noteworthy that the "Tatweer" program aims to develop and ensure the continuity of small and medium enterprises, enhance their role and contribution to increasing the real estate supply, and is one of the supportive programs to encourage financial institutions to deal with a new segment of real estate development institutions and companies to deal with them and provide the necessary financing to develop and establish their housing projects.
