Egypt’s Premiere Securities Eyes Launch of Real Estate Fund with EGP250mn Soon

Financial service company Premiere Securities S.A.E Chairman Ahmed Adel revealed that his company is aiming to start the launch of real estate fund worth EGP250 million as an initial capital after the holidays of Eid Al-Adha (Feast of Sacrifice).

Premiere Securities was awaited the completion of ongoing amendments to the regulations governing by Egyptian Financial Supervisory Authority (EFSA) in order to start the actual measures of real estate fund, Adel added.

This fund comes among Premiere’s schemes at the term of mutual fund so as to enhance the volume of the managed assets by the company and to make these assets up to EGP1.5 billion within 2014/2015.