Saudi CMA approves listing Al Maather REIT on Tadawul

Saudi Arabia’s Capital Market Authority (CMA) has approved Osool & Bakheet Investment Co.’s request to offer, register and list units of Al Maather Real Estate Investment Traded Fund (REIT) on the Saudi Stock Exchange (Tadawul), the market regulator said in a statement.

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

Last November, the CMA approved a request by Riyad Capital to register and list its REIT as the first real estate investment traded fund in the market.  

Three other REITs have also been listed on Tadawul so far: Aljazira Mawten REIT in February, Jadwa REIT Al-Haramain Fund in April, and Taleem REIT last month.

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 property.