01 September 2016

Saudi Arabia has issued draft rules for exchange-listed real estate funds in a bid to draw more private investors into its housing sector.

The Capital Market Authority published the draft rules last month for “real estate investment traded funds” ahead of a final version of the regulations.

The funds, publicly offered and traded on the Saudi stock exchange, would invest in residential, commercial, industrial, and agricultural real estate.

The draft rules cover the management, operation and ownership of the funds, specifying for example that they would not be allowed to invest more than 25 per cent of their assets outside Saudi Arabia.

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