Riyadh – Mubasher: Saudi Arabia’s Alkhabeer Capital announced on Tuesday plans to list its property shares on the Saudi Stock Exchange (Tadawul) through an imminent initial public offering (IPO).

This move is expected to increase the company’s credit ratings and will enable investments and operations in biggest real estate assets in Riyadh.

This company said that it had planned an IPO valued at SAR 237 million ($63.18 million), while the total value of the assets stand at more than SAR 1 billion ($266.6 million).

Earlier in October, the Saudi Capital Market Authority (CMA) welcomed the company’s first real estate investment trust (REITs) listing.