Saudi Arabia’s Capital Market Authority (CMA) approved Middle East Financial Investment Company’s request to offer, register and list units of the MEFIC REIT on the Saudi Stock Exchange (Tadawul), the market regulator said in a statement on Monday.

 

Details of the fund will be available on the CMA and fund managers’ websites, it added.

 

Tadawul started listing real estate investment trusts (REITs) in 2016, in a move aimed at enhancing transparency in the property sector and easing the Kingdom’s housing shortage.

 

The funds allow investors to access the local real estate market through purchasing existing, developed property.

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