المادة 47(e): Conditions for Offering REITs

e) The investments of the REIT fund manager on the Parallel Market in usufruct rights shall not be subject to the restriction stipulated in sub-paragraph (a) of sub-paragraph (3) of paragraph (b) of this Article.

4) Fund's assets requirements: with regards to Articles (36) and (37) of these Regulations, the fund manager must ensure the provision of valuation reports for the real estate, prepared by two accredited valuers, with the Saudi Authority for Accredited Valuers’ fellowship, and publish them during the offer period on its website and the Exchange’s website. The reports shall contain an assessment of market rents (where applicable) and the assessment period shall not exceed three months of the offering commencement date. Where more than two accredited valuers were appointed, the fund manager must publish all the accredited valuers' reports.