Real estate exchange launch postponed to next year: report

Ministry of Justice building

The launch of the Saudi real estate exchange is postponed until the beginning of the next year, Al Arabiya.net reported, citing informed sources at the Ministry of Justice.

In March, the Minister of Justice said the real estate exchange will be ready in 2021 and will be similar to other stock markets, according to data compiled by Argaam.

The launch of the exchange will be gradual, sources said. The ministry is working on ensuring necessary infrastructure and technical capabilities until comprehensive regulations are issued, which will clarify responsibilities and legal relationship.

Furthermore, moving to the new bourse will not be compulsory, at least in the early stages.