By Hadeel Al Sayegh
DUBAI: Saudi Arabia’s stock market on Tuesday said it plans to list “multiple” exchange-listed real estate funds before the end of the year.
The Tadawul’s statement follows regulations passed by the Capital Market Authority last month which paved the way for “real estate investment traded funds”.
These would invest in residential, commercial, industrial, and agricultural real estate, periodically distributing part of their income to holders of the fund.
The Tadawul will create an independent sector for these instruments, “where investors may buy and sell units of the fund via the same mechanism currently used for equities”, it said in Tuesday’s bourse statement. ( Editing by David French)
Source: Reuters