Dubai may host Irex Group realty exchange

Dubai is expected to house the regional branch of the world's first specialised real estate exchange operated by the Irex Group of Canada.

Irex Group announced plans to launch its first group of exchanges, Irex Europe/Mena and Irex Canada, in 2012. It is seeking authorisation to set up an operating branch in Dubai to service issuers and manage listings for Mena. It will also seek permission from the Financial Services Authority (FSA) to operate an Irex exchange in London. It will create and operate a regulated securities marketplace for the listing and trading of real estate assets in key financial centres around the world.

The exchange will list securities of real estate projects which are approved and licensed by governmental authorities. The real estate exchange will be dedicated for trading in asset-backed securities of the real estate sector only and this will be unique around the world.

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