Saudi CMA approves listing Al Nefaie REIT on Tadawul

12/12/2017 Argaam

Saudi Arabia’s Capital Market Authority (CMA) has approved Al Nefaie Investment Group's request to offer, register, and list units of the Al Nefaie – Umm Alqura REIT Fund on the Saudi Stock Exchange (Tadawul), the market regulator said in a statement on Tuesday.

 

Details about the fund will be available on the CMA and fund manager’s websites, it said.

 

Tadawul started listing real estate investment traded funds (REITs) last year in a move aimed at enhancing transparency in the property sector and easing the Kingdom’s housing shortage. 

 

These funds allow investors to access the local real estate market through purchasing existing, developed property.  

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