Saudi's REIT market grows in size and scale | ZAWYA MENA Edition:
"The number of real estate investment trusts (REITs) in Saudi Arabia has doubled over the past two quarters to 12, with the combined market capitalisation of these trusts now exceeding $2.3 billion, according to a new report from Knight Frank. The property consultancy said that six new REITs achieved listings on the Saudi stock market, Tadawul, in the final quarter of 2017 and the first quarter of this year. Research manager Raya Majdalani also said that a further six REITs are currently in the pipeline, having received initial approval from the Capital Markets Authority (CMA) to list, subject to regulatory requirements. The CMA has also proposed changes to the structure of REITs, which would see the minimum capital requirement raised to 500 million Saudi riyals ($133.3 million), up from the current level of just 100 million riyals, in a bid to avoid having smaller, less liquid REITs."
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