Arab Misr Insurance GIG Plans Opening New HQ in New Cairo with EGP90mn

Head of Investment Sector at Arab Misr Insurance Group GIG Mohamed Nagah Nour said the investment cost of new headquarter in New Cairo ups to EGP90 million.

He told Amwal Al Ghad that it is schedule to  inaugurate new headquarter within the upcoming 3 years that will achieve widespread geographically in New Cairo.

The main headquarter of the company will turn into GIG’s branch besides selling part of the branch in order to contribute in providing liquidity for the company, Nour explained.

Over the company’s investments plans, Nour asserted that GIG bought Suez Canal investment certificates worth EGP5 million, expecting that the cash liquidity will boost, Nour noted.

GIG is aiming increasing its investment portfolio to EGP530 million by the end of the current fiscal year 2014/2015 against EGP470 million investments at June-end.

The total investments income reached around EGP64.5 million at June-end, stressing that the net investment income reached around EGP60million at last June.