29 April 2012
Abu Dhabi Securities Exchange (ADX) Signs MoU With REIDIN
Abu Dhabi Securities Exchange (ADX) has inked a memorandum of understanding (MoU) with Emerging Markets Real Estate Information Co. (REIDIN) to improve the facilities the exchange provides for its investors and extend real estate market trend information to the Abu Dhabi investment community.
The MoU paves the way to improve the benchmark real estate price indices constructed and updated by REIDIN since January 2009 and develop additional local property price benchmarks and trend information which investors and the public can refer to. The MoU also aims at increasing the level of FDI coming to Abu Dhabi’s real estate markets, through creating a platform to facilitate comparison of broad asset price movements over time to international corporate and private investors. Another aim of the partnership between ADX and REIDIN is to increase and provide Financial Literacy information that will open the way for investment vehicles such as Real Estate Investment Trusts (REITs) and Property Derivatives.
The MoU was signed between Mr. Rashed Al Baloushi, CEO of ADX, and Mr. Ahmet Kayhan, CEO of REIDIN, at Abu Dhabi Securities Exchange main offices in Abu Dhabi on Thursday the 26th of April in the presence of senior staff of both organizations.
“We are very pleased to have signed this deal with REIDIN to benefit ADX members with an effective and reliable organization with many years of experience working in the real-estate field.” Said Mr. Al Baloushi.
Mr. Al Baloushi reiterated “through this MoU, ADX aims to improve the real estate investment, rental and disposal decision making process to the benefit of the real estate investors in Abu Dhabi. We also desire to maximize the strength of the ADX brand name by maximizing the value of real estate market information available in Abu Dhabi, noting that ADX is the region’s first securities exchange to provide such integrated comprehensive real estate price benchmarks done through establishing specific sector expertise and differentiate services from main competitors”
“We are honored to partner with ADX to strengthen, deepen and enlarge our Abu Dhabi based real estate benchmark indices and to open them up for the service of good people of Abu Dhabi and its investment community. We are particularly impressed with the visionary and long term thinking of ADX’s Senior Management and look forward to working closely with them on this very exciting project.” also told Mr. Kayhan.
Mr. Kayhan added “Now it’s our responsibility to work harder and look for better ways to improve the Abu Dhabi real estate markets attractiveness for more Foreign Direct Investment from the region and international markets – from both corporate and private investors through different investment vehicles. Indices will create the strong and long term base for it. It’s just a start.”