UAE’s Shuaa Capital says Saudi subsidiary in early talks to set up REIT

12/10/2017 Argaam

 

Dubai-listed Shuaa Capital said on Thursday that its Saudi unit is in preliminary talks with the Kingdom’s Capital Market Authority (CMA) to set up a new real estate investment trust (REIT),the new vehicle will be listed on Tadawul, the company added in a statement to Dubai Financial Market (DFM).

 

Earlier this month, Omar Al Jaroudi, chief executive of Shuaa Capital Saudi Arabia said the company is planning to establish a REIT with assets between SAR 500 and SAR 700 million, Argaam reported.

 

The fund will also study buying hotel assets. 

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