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Naeem plans mortgage firm
- Egypt: Sunday, September 16 - 2007 at 08:59
The CEO of Egyptian investment bank Naeem Holding, Ahmed Naim Badr, is planning to set up a $200m mortgage company to take advantage of the rising demand for real estate in the country, reported Reuters. The firm could begin operations before the end of the year and Naeem is likely to retain a minority 10% holding. Naeem is also looking to invest funds worth $300m in the regional property sector.
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Jonathan Sheikh-Miller, Deputy EditorSunday, September 16 - 2007 at 08:59 UAE local time (GMT+4)
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