Saudi CMA approves listing Al Mashaar REIT on Tadawul

16/10/2017 Argaam

Saudi Arabia’s Capital Market Authority (CMA) has approved Muscat Capital’s request to offer, register and list units of the Al Mashaar 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.  

 

Five other REITs have also been listed on Tadawul so far: Aljazira Mawten REIT in January, Jadwa REIT Al-Haramain Fund in April, Taleem REIT in May, Al Ma’athar REIT in August, and Musharaka REIT earlier this 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.  

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