ALFARDAN REAL ESTATE COMPANY W.L.L.

Industry Classifications - NAICS

• » Real Estate Investment Trusts

• » Real Estate and Rental and Leasing

• » Offices of Real Estate Agents and Brokers

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Real Estate Investment Trusts

NAICS # 52593 | This industry comprises legal entities that are Real Estate Investment Trusts (REITs). Legal entities of mortgage-backed investment funds that are not REITs are classified elsewhere in the Funds, Trusts, and Other Financial Vehicles subsector based on the types of funds; and Legal entities of investments in real estate that are not REITs are classified in Industry Group 5311, Lessors of Real Estate.

Real Estate and Rental and Leasing

NAICS # 53 | The Sector as a Whole

The Real Estate and Rental and Leasing sector comprises establishments primarily engaged in renting, leasing, or otherwise allowing the use of tangible or intangible assets, and establishments providing related services. The major portion of this sector comprises establishments that rent, lease, or otherwise allow the use of their own assets by others. The assets may be tangible, as is the case of real estate and equipment, or intangible, as is the case with patents and trademarks.

This sector also includes establishments primarily engaged in managing real estate for others, selling, renting and/or buying real estate for others, and appraising real estate. These activities are closely related to this sector's main activity, and it was felt that from a production basis they would best be included here. In addition, a substantial proportion of property management is self-performed by lessors.

The main components of this sector are the real estate lessors industries; equipment lessors industries (including motor vehicles, computers, and consumer goods); and lessors of nonfinancial intangible assets (except copyrighted works).

Excluded from this sector are real estate investment trusts (REITS) and establishments primarily engaged in renting or leasing equipment with operators. REITS are classified in Subsector 525, Funds, Trusts, and Other Financial Vehicles, because they are considered investment vehicles. Establishments renting or leasing equipment with operators are classified in various subsectors of NAICS depending on the nature of the services provided (e.g., transportation, construction, agriculture). These activities are excluded from this sector because the client is paying for the expertise and knowledge of the equipment operator, in addition to the rental of the equipment. In many cases, such as the rental of heavy construction equipment, the operator is essential to operate the equipment.

Offices of Real Estate Agents and Brokers

NAICS # 5312 |

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