Musharaka REIT begins trading on Tadawul Oct. 1

28/09/2017 Argaam

 

Musharaka Capital Company’s Real Estate Investment Traded Fund, Musharaka REIT, will start trading on the Saudi Stock Exchange (Tadawul) on Sunday, October 1, with the code 4335, the exchange said in a statement.

 

The daily price fluctuation limit per share will be 10 percent.

 

In July, Saudi market regulator, the Capital Market Authority (CMA) approved Musharaka Capital’s request to offer and list units of its Real Estate Investment Traded Fund (REIT) on Tadawul.  

 

Five other REITs have been listed on Tadawul so far: Riyad REIT, Aljazira Mawten REIT, Jadwa REIT Al-Haramain Fund, AlMa'athar REIT and Taleem REIT.

 

Tadawul started listing REITs last year in a move aimed at enhancing transparency in the property sector and easing the Kingdom’s housing shortage.

 

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

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