Iran is preparing to set up a real-state stock exchange to trade lands and houses, said local reports on Wednesday, August 25.
It is expected to be ready in the second half of the current Iranian calendar year, meaning somewhere between September 22, 2021, and March 20, 2022.
It will be under the purview of the Iran Mercantile Exchange or IME, according to the country’s deputy transport and urban development minister Mahmoud Mahmoudzadeh.
He was quoted by the local reports as saying that there has been cooperation in this due between the ministry and IME for some months, and that some positive results have been already achieved in this regard.
The establishment of such an exchange is said to be in line with the government’s policy of providing housing units for the underprivileged.
The head of Tehran Stock Exchange had earlier announced that the exchange was due to be established in the middle of the previous Iranian calendar month, which put it in early July 2020.
When established, it is expected to be Iran’s fifth major stock exchange.