The Capital Market Authority (CMA), the stock market regulator, has approved a request by Riyad Capital to register and list its Real Estate Investment Traded Fund (REIT) on the Saudi Stock Exchange (Tadawul).
Details on the fund will be available on the websites of Tadawul and Riyad Capital.
Tadawul plans to list REITs by year-end in a move that could potentially enhance transparency in the property sector and ease the kingdom’s housing shortage.
The new funds will allow investors to access the local real estate market through purchasing existing, developed property.
Investors can participate in REITs, upon the initial public offering (IPO) on the primary market, or after listing fund units, where investors will buy these units on the secondary market.
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