55 IPO files on CMA table, 20% from real estate firms: Chairman
Capital Market Authority (CMA) Chairman Mohammed ElKuwaiz said real estate firms now hold a larger ratio of companies seeking to list shares in Saudi Arabia and the funds raised in initial public offering (IPO).
Currently, around 55 IPO and listing applications are under review in Saudi Arabia, with real estate companies accounting for 20% across various categories and services.
Speaking at the Real Estate Future Forum, ElKuwaiz noted that assets under management (AUM) in real estate funds grew by about 23% in 2024. These funds now represent around 25% of total AUM in Saudi Arabia, with total managed assets exceeding SAR 1 trillion.
He added that a quarter of these assets are in private and public real estate funds or REITs, highlighting the sector's growing influence in asset management.
ElKuwaiz also said the revival of real estate contributions is a subset of real estate funds, focusing on smaller projects. The first real estate contribution certificates are expected to launch in the coming weeks.
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