Saudi Arabia’s Capital Market Authority (CMA) has approved Blominvest’s request to offer, register and list units of the Blom Fund of REITs on the Saudi Stock Exchange (Tadawul), the market regulator said in a statement.
The move follows the recent CMA approval for NCB Capital’s request to offer, register and list units of the AlAhli REIT Fund (1) on the Saudi bourse.
Tadawul started listing REITs last year 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 properties.
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