Tadawul News: 17 REITs on Saudi stock exchange now worth $3.7bn - Arabianbusiness:
The number of real estate investment trusts (REITs) listed on the Saudi stock exchange has risen to 17, with a total market capitalisation of $3.7 billion as of November 2019, according to a report from Knight Frank.
Knight Frank’s last REIT update – in Q1 2018 – recorded 12 REITs with a $2.3 billion market capitalisation.
However, in a statement the firm said it expects a slowdown in listings, with the vast majority of activity taking place in 2018 and not 2019. In 2018, nine new REITs were listed, compared to just one listing to date in 2019.
“The growing depth of the market is offering a more favourable platform for investors willing to adopt a long-term investment approach while taking advantage of the portfolio diversification benefits offered by REITs,” said Stefan Burch, general manager and partner at Knight Frank Middle East in Saudi Arabia.
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