Saudi REITs attract foreign investment, says El-Kuwaiz

The launch of real estate investment traded funds (REITs) has helped the Saudi market attract substantial foreign investments, Al-Eqtisadiah newspaper reported on Wednesday, citing Mohammed El-Kuwaiz, vice chairman of Saudi Capital Market Authority (CMA).

REITs also boosted trading values, and offered new options and products to investors, who have recently injected huge funds in real estate products.

Meanwhile, El-Kuwaiz added that the CMA is currently studying relaxing its rules for foreign investors, to enhance market competitiveness.

The market regulator is also laying down new regulations to face potential challenges to securities.

Saudi Arabia is planning to approve the listing of foreign companies on Tadawul soon, as the Kingdom aims to become a regional hub for stock trading, Argaam earlier reported.