CMA approves REIT offering by Al Nefaie

02/05/2018 Argaam

 

The Capital Market Authority (CMA), the stock market regulator, has approved the public offering by Al Nefaie Investment Group for its real estate investment traded (REIT) fund on the Saudi Stock Exchange (Tadawul).

 

Tadawul started listing REITs in 2017 in a move that could potentially enhance transparency in the property sector and ease the Kingdom’s housing shortage. A total of 12 REITs have been listed on the exchange at the end of Q1 2018.

 

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

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