Saudi market regulator studying REIT listing rules - sources

Saudi Arabia's Capital Market Authority (CMA) is studying plans to introduce rules governing the listing of real estate investment trusts (REITs). The regulator has approached market participants in recent weeks about forming a panel which will report to it on areas including how REITs work in international markets. The CMA was not available to comment. Given the early stage of the plans and the slow pace of regulatory progress in the kingdom, it is likely to take some time to draw up even draft rules for REITs, securities which trade on stock markets but which invest directly in properties and distribute profits as dividends.