RIYADH: Foreign ownership in Saudi Arabia’s stock exchange hit SR264 billion ($70 billion) last year amid efforts by the Kingdom to spur foreign investment.

Increased market attractiveness propelled a 54 percent rise in the ownership of qualified foreign investors at the end of 2021 compared to a year earlier, according to the latest release of the Capital Market Authority’s annual report.

The year also witnessed a higher frequency of listings on the bourse, with a total of 21 listings completed on the Kingdom’s main and parallel markets.

The report showed that Tadawul turned in a higher volume of sukuk and debt instruments issuances, valued at SR753 billion.

The CMA aims to list more companies and investment products this year, develop the Sukuk market, and boost attractiveness of the Kingdom’s capital market.

It said it will continue to support digital transformation in financial services, develop infrastructure institutions, and adopt sustainable finance to meet international standards in these areas.