It is not right to say that investors are shifting focus from real estate to the stock market. Instead, it can be seen as a diversification across different asset classes, according to Riyad Bank's Vice President and Chief Economist Ahmad Al-Telfah. Over the past three years, the financial market was fragile and sensitive to any global developments. So, investors focused their attention on the real estate. Now, the financial market is improving, so people are looking to diversify their portfolios again between real estate and equities, he told Arab News in an exclusive interview. Al-Telfah asserts, the economic and Tadawul's indicators show that we are not heading toward a bubble. Although the economy is going through an extended expansionary monetary policy, the leverage ratio does not seem to exceed its historical averages.
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