Tehran – A real state stock exchange to trade lands and houses will be established on the Iranian Commodity Exchange (IME) in the second half of the current Iranian calendar year (September 22, 2021 – March 20, 2022), the Deputy Minister of Transport and Urban Development announced.
Mahmoud Mahmudzade, Deputy Minister of Housing and Construction, said that the Ministry and the IME have been cooperating on this issue several months ago, and some positive results have already been achieved in this regard.
The establishment of such an exchange is in line with the government’s policy of providing housing to the poor, and many efforts have already been made to prepare the necessary infrastructure in this regard.
The head of the Tehran Stock Exchange (TSE) previously announced that the exchange should be established in the middle of the previous Iranian calendar month (early July 2020).
Once established, it will be the country’s fifth largest stock exchange. The other four are TSE, the Iranian over-the-counter (OTC) market known as Iran Fara Bourse (IFB), the Iranian Energy Exchange (IRENEX), and the Iranian Commodity Exchange (IME).
The deputy head of the Iranian Chamber of Commerce, Industry, Mining and Agriculture (ICCIMA) says the establishment of a real estate exchange in the country will promote transparency in the market.
According to Hossein Selahvarzi, the creation of this stock exchange will provide an opportunity to make transactions in the housing market more competitive and transparent, as well as attract people’s confidence to participate in massive construction projects.
Highlighting the great potential of this exchange, he said that the capital market can identify practical instruments for financing the real estate market and large construction projects, and this will make people more confident in participating in such projects.
At the end of June 2020, the outgoing Minister of Finance and Economy Farhad Dejpasand announced the creation of a real estate stock exchange in the country.
The minister said that the Ministry of Economy is completing an issue with the Securities and Exchange Commission (SEO).
MA / MA