Muscat - The Capital Market Authority (CMA) has issued its initial approval for the establishment of the sultanate's first real estate investment fund named 'Aman REITs'. This is part of the economic diversification initiatives of innovative finance and financing lab supported by Tanfeedh.

The initial public offering (IPO) of the fund is expected during the first quarter of this year. Real estate investment trusts (REITs) are considered a qualitative addition to the GDP and would enhance investment opportunities in Oman's real estate sector.

Mohammed bin Said al Abri, vice president - capital market sector at the CMA said, “We praise the first initiative to establish real estate investment fund, which we expect to have noticeable impact in pushing the economic development process in Oman. Aman REITs for real estate investment is in the initial procedures and expressed hope to finalise the offering process before the end of the first quarter of this year.”

Abri said that the CMA’s initial approval has been issued for RO20mn fund and 50 per cent of the capital will be offered for the public through the IPO.

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