Tadawul allows to list REITs worth below SAR 500 mln on Nomu: Al-Rumaih

Mohammed Al-Rumaih, CEO of The Saudi Exchange

The Saudi Exchange (Tadawul) now allows real estate investment traded funds (REITs) worth SAR 100 million to SAR 500 million to be listed on Nomu - Parallel Market in the coming period, CEO Mohammed Al-Rumaih said.

During the discussions at the Financial Sector Conference (FSC), Al-Rumaih expected that specialized sectoral investments will be created during the coming period so that the focus will be on the healthy real estate sector, for example, the retail or hotel property sectors.

He pointed out that this comes in light of the increase in the number of funds, competition and the growing demand from investors. In addition, the current trend of funds will be in three main directions: funds specialized in sustainability, global equities and investment in sukuk.

The next challenge, he said, is to provide more additional indices and more funds to cover diversified assets and attract a larger segment in terms of investors.

Recently, Wasatah Capital announced raising a total of SAR 177.03 million from the offering Al Waha REIT Fund as the first REIT to be listed on Nomu, according to data available on Argaam.