Dubai Financial Market has unveiled its plans to launch a new platform for real estate investment trusts (REITs) within the next few months. The announcement came after publishing a new regulation for REITs that has been approved by UAE’s Securities and Commodities Authority.
In his comment on the new major announcement, Hassan Al Serkal, the COO and head of operations of Dubai Financial Market assured that the publication of the new regulation follows the international’ best practices.
Al Serkal added that launching the new platform is a milestone towards implementing DFM’s 2021 strategy which seeks diversifying the offered products to provide the market participants with different investment opportunities.
The announcement was made after Dubai Financial Market signed an agreement with Dubai Land Department to explore new investment possibilities in the real estate sector of Dubai.
It is worth mentioning that the new platform’s launch comes among a significant region-wide expansion in the REITs market in most of GCC countries including Oman, Bahrain, UAE, and most prominently Saudi Arabia, where the value of the REITs listed in the kingdom’s stock exchange market has exceeded the $2bn mark so far.