Dubai – Mubasher: SHUAA Capital is looking to launch a real estate investment traded fund (REIT fund) in Saudi Arabia prior to the end of 2018, CEO Fawad Tariq Khan has said.
The Dubai-based investment bank is on the verge of completing the procedures of launching the fund and listing it on the Saudi Stock Exchange (Tadawul) in the coming period, Khan added, according to Al Bayan newspaper.
In July, SHUAA Capital stated that it would cooperate with Saudi-based Jabal Omar Development Company (JODC) to launch and manage real estate investment funds in the oil-rich kingdom.
The Dubai Financial Market (DFM)-listed company last reported a 21% year-on-year profit growth during the second quarter of 2018, recording AED 14.6 million, compared to AED 12.1 million.
