The Real Estate Developers Services Center (Etmam) signed a memorandum of understanding with Deutsche Gulf Finance, as part of its ongoing efforts to improve the efficiency of its services, accelerate the pace of work on 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 real estate development procedures to contribute to the development of the sector and increase its contribution to the GDP.

The agreement was signed on behalf of “Etmam” by the General Manager of the Real Estate Developers Services Center (Etmam), Eng. Mosaed Al-Otaibi, and on behalf of Deutsche Gulf Finance, CEO Mohammed Al-Duwaish.

The memorandum of understanding aims to enhance cooperation between the two parties to provide electronic services through the “Etmam” platform, to enable real estate developers to open a special escrow account for off-plan sales projects and apply for financing for licensed projects.
The Director General of the “Etmam” Center explained that signing the memorandum of understanding with “Deutsche Gulf Finance” comes as a continuation of the center’s efforts to improve services and overcome obstacles facing real estate developers, and as an affirmation of “Etmam’s” role 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 residential units and facilitate Saudi families’ access to suitable housing, as part of the center’s efforts to achieve the goals of the housing program - one of the programs of Vision 2030 - to increase the percentage of home 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 that the real estate developer needs, which enables him to obtain services easily and with high reliability in addition to establishing the principle of transparency by clarifying the procedures related to services and making available all data and statistics that real estate developers can benefit from.