According to official data, the number of subscribers in public and private investment funds in Saudi Arabia has surpassed one million for the first time. At the end of the third quarter of 2023, there were over 1.126 million subscribers, marking a significant increase compared to the same period last year when the number stood at 677,400. This represents a remarkable 66 percent growth. The real estate sector, encompassing both public and private funds, accounted for the largest number of subscribers, SPA reported.
Read more: Goldman Sachs: Saudi eyes one trillion dollar investment boost in 6 main sectors
As of the end of Q3 2023, the subscribers of real estate investment traded funds (REITs) accounted for 55 percent of the total subscribers in public investment funds. Additionally, the subscribers of real estate funds represented 71 percent of the total subscribers in private investment funds.
According to the data, there was a six percent rise in the number of listed companies on the main market (TASI) during Q3 of this year. The total number of listed companies reached 230, compared to 217 in the same period of the previous year.
Moreover, the number of listed companies on the Saudi parallel market ‘Nomu’ reached 67 in Q3 2023, experiencing a substantial increase of 76 percent compared to the same period last year.
In Q3 of the current year, investment funds achieved a new milestone, reaching a record high of 1,209 funds. This represents a remarkable increase of 35.8 percent compared to the 890 funds recorded in the same period of the previous year.
By the end of Q3 2023, the number of public funds reached 283, while the number of private funds stood at 926. In comparison, during the year-ago period, there were 253 public funds and 637 private funds, indicating significant growth in both categories.
For more news on the economy, click here.
