Riyadh city
Saudi Arabia maintained its leading position among the world’s 50 best real estate markets, said consultancy firm JLL in its latest report.
In a statement, of which Argaam picked a copy, JLL affirmed that the Kingdom reinforced its position at a regional level, scoring particularly well in the category of listed vehicles’ corporate governance transparency.
It also ranked well in the investment performance transparency, due to a combination of the solid REIT regulatory framework in place (introduced in 2016) and its listed vehicles having good-quality financial accounts, data disclosure and corporate governance practices.
Saudi Arabia also scored well on its investment performance transparency – for the listed market, as it has the Tadawul Real Estate Development Index and several of its REITs are constituents in the FTSE EPRA NAREIT Global REITs Index.
According to the report, a common aspect of the changes taking place across global real estate markets is the need for greater harmonization and alignment in sustainability initiatives, regulatory environments, technologies, and data frameworks.
Many companies are focusing on the Environment, Social and Governance aspects of their business, and more regulations and metrics to enhance and provide guidelines for these goals across the sector are likely.
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