Egypt’s Premiere Securities Eyes Launch of New REIT Launch within 2014

Financial service company Premiere Securities S.A.E. is set to a new real estate investment trust (REIT) within this year, Amwal Al Ghad’s Arabic website reported on Tuesday.

According to the Chairman of Premiere Securities Dr. Ahmed Adel, the planned REIT will be with an initial capitalization worth EGP 250 million and up to a maximum of EGP one billion.

“Premiere is set to start its new scheme after the completion of ongoing amendments to the regulations governing the work of the investment funds (in Egypt).” He added

Moreover, Adel referred that Premiere is also planning within the current year to activate direct investments transactions.

“Upon our Nominated Advisor licence, Premiere plans to enlist two new firms on NILEX (Egyptian Exchange for the Small and Medium-sized enterprises) within 2014.”

Premiere Securities is a financial service company in the Egyptian Stock Market. The company offers portfolio management, research services, brokerage and trading.