REITs constitute 34% of total Saudi funds with SAR 192B: Official

20/02/2024 Argaam

REITs constitute 34% of total Saudi funds with SAR 192B: Official

Fahad bin Hamdan, CMA Assistant Deputy, Financing, and Investment  

Fahad bin Hamdan, Assistant Deputy, Financing, and Investment at the Capital Market Authority (CMA), said that real estate investment trusts (REITs) make up 34% of the total size of funds in Saudi Arabia, with SAR 192 billion, according to Al Eqtisadiah newspaper.

 

Previously, REITs accounted for nearly 18% of total funds, a percentage that has increased over the past decade.

 

The multiple real estate financing products offered by the CMA boosted the REITs size, he added.

 

There are several products stimulating the real estate sector, including Tawarruq, which aims to convert mortgage loans into securities, bin Hamdan noted, stressing that this boosts the financing entities' ability to serve real estate developers through offering them mortgages in line with their project plans.

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