The Saudi Capital Market Authority’s (CMA) board has approved the request from Jadwa Investment to offer, register and list Jadwa REIT Al-Haramain Fund units on the Saudi Stock Exchange (Tadawul) as a real estate investment traded fund.
Details about the fund will be available on the websites of CMA and fund manager’s website.
Last year Tadawul started listing REITs 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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