Saudi CMA approves listing Musharaka REIT on Tadawul

17/07/2017 Argaam

Saudi Arabia’s Capital Market Authority (CMA) has approved Musharaka Capital’s request to offer and list units of its Real Estate Investment Traded Fund (REIT) on the Saudi Stock Exchange (Tadawul), the market regulator said in a statement.

 

Details about the Musharaka REIT will be available on the CMA and fund manager’s websites.

 

Last month, the CMA approved Osool & Bakheet Investment Co.’s request to offer, register and list units of the AlMa'athar REIT on the Saudi bourse.

 

Four other REITs have been listed on Tadawul so far: Riyad REIT, Aljazira Mawten REIT, Jadwa REIT Al-Haramain Fund, and Taleem REIT.

 

Tadawul started listing REITs last year in a move aimed at enhancing transparency in the property sector and easing the Kingdom’s housing shortage. 

 

The new funds will allow investors to access the local real estate market through purchasing existing, developed property.  

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