draft regulation for real estate investment trust funds ready
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Draft regulation for real estate investment trust funds ready

Arab Today, arab today

Arab Today, arab today Draft regulation for real estate investment trust funds ready

Muscat Securities Market
Muscat - Arab Today

A draft regulation for listing real estate investment trust (REIT) funds is ready and is awaiting final approval from certain ministries, such as the Ministry of Housing, according to a top-level official at the Capital Market Authority (CMA).

“From our side, the draft is ready. We need to talk to certain government entities like the Ministry of Housing because there are certain legal issues that prevent companies and funds from owing properties. We need to resolve this issue with the Ministry of Housing,” Sheikh Abdullah bin Salim Al Salmi, executive president of CMA, told the Times of Oman. 

He said the whole issue will be resolved shortly and the regulation will be announced this year. The new regulation, which was approved by Tanfeedh, will be for both conventional and Sharia compliant REITs. “This will be another venue for Sharia-compliant issue,” noted the CMA chief.

REITs are securities that sell like a stock on the bourse and invest in real estate directly, either through properties or mortgages. It provides investors an opportunity to participate in real-estate projects even with a small fund size and offers regular income and capital appreciation.

“We have already seen some appetite from the market,”Al Salmi said, adding that two investors have already approached CMA for launching REITs in Oman. These investors might be allowed to float funds even before announcing the regulation.

REITs will help the investing public to participate in the real-estate sector (despite relatively lower funds) and get a regular return. There is big potential for growth for this fund, which is also a good way of financing real-estate projects.

In fact, several countries in the Gulf region are introducing the fund in view of demand from real estate developers and investors. Oman is trying to catch on this concept. The United Arab Emirates had introduced REITs sometime back and Saudi Arabia and Bahrain have recently introduced them.

Source :Times Of Oman

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

draft regulation for real estate investment trust funds ready draft regulation for real estate investment trust funds ready

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

draft regulation for real estate investment trust funds ready draft regulation for real estate investment trust funds ready

 



GMT 08:40 2017 Sunday ,24 December

Hurting Madrid refuse to throw in the towel - Zidane

GMT 12:54 2016 Monday ,19 September

Munich's Oktoberfest opens amid tight security

GMT 10:06 2016 Friday ,19 August

Murray survives grueling day for top seeds

GMT 12:12 2017 Saturday ,05 August

Pakistani Premier meets British FM

GMT 20:00 2017 Thursday ,19 October

Egypt to tackle overpopulation

GMT 03:07 2018 Friday ,19 January

Amazonians want pope to come to their defense

GMT 09:13 2018 Tuesday ,16 January

Volkswagen reports record global car sales

GMT 13:50 2017 Saturday ,11 February

Tanzanian president appoints new anti-narcotics team

GMT 20:39 2017 Tuesday ,18 April

AL to organize ceremony to honor Bahraini PM

GMT 10:30 2017 Thursday ,26 October

Asia faces air travel infrastructure 'crisis': IATA

GMT 11:37 2017 Tuesday ,12 December

A Better Mammogram? Huge Study Putting

GMT 11:19 2017 Sunday ,10 December

Ronaldo stars as rejuvenated

GMT 05:00 2017 Tuesday ,18 April

Ant hikes MoneyGram bid by more than a third

GMT 04:51 2017 Thursday ,16 March

Cathay Pacific posts 1st annual loss since 2008
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday