Saudi Arabia to draw more listings in 2022 if liquidity, market momentum remain intact: ElKuwaiz

Mohammed ElKuwaiz, Chairman of Capital Market Authority

Chairman of the Saudi Capital Market Authority (CMA), Mohammed ElKuwaiz, said that he expects more listings in the Saudi market this year, compared to 2021, if liquidity and market momentum maintained the same level.

A rise in listings will coincide with the increased number of applications filed with the CMA, which are under study by financial advisors, he added in a panel session during the Real Estate Future Forum today, Feb. 23.

In 2021, the Saudi market witnessed 21 new listings – the highest level in since the establishment of the market regulator, ElKuwaiz said. Some companies obtained the CMA’s approval last year, but were listed in early 2022, while the remaining applicants will list their shares later, he added

These listings helped increase corporate governance and sustainability.

On the other hand, the top official revealed that options are now available to real estate developers to list their shares, so as to raise the finance required for growth and investment opportunities, in addition to other channels, such as loans or real estate funds.

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