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Saudi Stock Exchange (Tadawul) celebrated the listing of Musharaka REIT
01 October 2017
On 1 October 2017, both Saudi Stock Exchange (Tadawul) and Musharaka Capital celebrated the listing of Musharaka REIT fund in the Saudi market as the sixth traded real estate fund in the Saudi Arabia. The event was attended by the CEO, Mr. Ibrahim Fahad Al-Assaf and Chief of Markets at Tadawul, Waleed AlBawardi.
AlBawardi gave a welcoming opening speech in which he assured that Tadawul is keen on increasing and diversifying the stock market’s assets through encouraging issuers to list more real estate funds in the stock market, which will turn the sector as an additional streamline to economic development and enhance the investment climate. Albawardi also praised efforts exercised by Musharaka’s REIT players and officials.
On the other hand, Musharaka CEO thanked Tadawul for their cooperation and facilitation of the IPO procedures. He added that traded real estate funds deliver a just image about one of the corner stones on the local economy, indicating that the real estate nowadays has become an investment channels accessible by all, whether individuals, institutions, or small/big investors.