Saudi Arabia .. Discussion of the possibility of listing the first REIT fund that acquires state-owned real estate

The chairman of the board of the Saudi Capital Market Authority, Muhammad bin Abdullah Al-Quwaiz, met with the governor of the General Authority for State Real Estate, Ihsan bin Abbas Bafaqih today at the headquarters of the Authority.

During the meeting, the two sides discussed the possibility of listing the first REIT fund that acquires government real estate. And modalities of joint cooperation in the framework of the integration of roles between government sectors in the light of Saudi Vision 2030and to achieve common strategic goals.

The role and tasks of the General Authority for state-owned real estate and its strategic initiatives aimed at achieving its mission of preserving state real estate and raising its production and economic efficiency through innovative solutions.

The main Saudi stock index instead closed today’s session, in fall of 0.66%, losing 74.94 points, and closing at 11342.85 points, with operations for 7 billion riyals.

GIB Capital Advisory Chief Abdullah Al-Hamid said, in an interview with Al-Arabiya, that the proposals in the Saudi market have strong competitive advantages in Important sectors such as renewable energy, technology and other emerging and promising sectors with opportunities.

The number of shares traded reached over 150 million shares, shared by more than 300,000 transactions, in where the shares of 44 companies recorded an increase in their value, while the shares of 145 companies closed.

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