REIT turn: Saudi sees surge in listings, but market performance is tough | ZAWYA MENA Edition:
The market for real estate investment funds (REITs) in Saudi Arabia saw strong growth in 2018, with the number of listings rising by a third since the first quarter of 2018 and it’s total worth in terms of market capitalisation surging by around 50 percent to pass the $3 billion mark, according to a new report published on Sunday by real estate consultancy firm Knight Frank.
However, the REIT market in the kingdom has faced a tough year on the bourse. While the Tadawul all share index rose by around 10 percent in 2018, the REIT index has fallen by around 20 percent year-to-date.
As a result, Knight Frank predicts that in 2019 it expects “the pace of REITs listings to moderate as indicated by fewer numbers of approved REITs in the pipeline”.
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