Saudi market regulator approves REIT listing rules | Reuters:
"Saudi Arabia's market regulator said it had approved rules governing the listing of real estate investment trusts (REITs), funds which could open the door to greater foreign investment in the kingdom's building sector.
The Capital Market Authority (CMA) said it would only accept property appraisals by members of the Saudi Authority for Accredited Valuers (Taqeem), which is launching a licensing system for real estate valuation in the kingdom.
The trusts are securities which trade on stock markets but invest directly in properties and distribute profits as dividends."
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