Tue 18-09-2018 19:21 PM
DUBAI,18th September 2018 (WAM) – The Dubai Financial Market (DFM) today published the Rules on Listing and Trading of Investment Funds and Real Estate Investment Trusts (REITs). The DFM has prepared the regulation in line with international best practices and has received the approval of Securities and Commodities Authority (SCA), paving the way for launching DFM’s REITs Platform during the next few months. The new platform will represent a significant addition to financial products on DFM.
Hassan Al Serkal, Chief Operating Officer (COO) and Head of Operations Division of DFM said: “As we officially publish this regulation, we are concluding our preparations for this significant step within the context of our 2021 strategy, which aims to diversify product offerings, providing various market participants with new investment opportunities. Currently, we are at an advanced stage of discussions with a potential issuer to list their REIT once they receive the SCA’s approval.”
It is noteworthy that the DFM has recently signed a Memorandum of Understanding (MoU) with Dubai Land Department (DLD) to open up new opportunities in the financial market for real estate companies, with a particular focus on real estate trust funds (REITs), and facilitate the listing of both the companies operating in the real estate sector and their assets.
WAM/Hassan Bashir/Tariq alfaham