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Financial Authority updates real estate fund rules
The General Authority for Financial Control has decided to amend the requirements for converting real estate development companies into real estate investment funds. It specifies that a company's net equity should be at least 500 million pounds after excluding adjustments resulting from asset revaluations. Additionally, the amount of loans on the balance sheet must not exceed a certain percentage of the company's total assets, in accordance with the executive regulations of the Capital Market Law. These modifications aim to ensure the stability of companies and regulate their debt levels before they transition into real estate investment funds.
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