Mafaz Arabia for Real Estate to list on Nomu

Mafaz Arabia for Real Estate Appraisal signed, on Nov. 11, an agreement with Al-Nefaie Investment Group, to arrange the listing of the company's shares on Nomu-parallel market.

Under the agreement, Al-Nefaie will act as the financial advisor to arrange the company's initial public offering (IPO) for qualified investors in accordance with the listing rules of the Saudi financial market.

The IPO, to be launched upon completing financial assessment, is expected to comprise the offering of a stake not less than 20% in Mafaz Arabia's capital.

Mafaz Arabia is a leading player in real estate appraisal, with business volume exceeding 25,000 operations annually. The company has carried out more than 19,000 evaluations, with the number of properties evaluated reaching more than 70,000 and assets value exceeding SAR 4 billion.