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Biggeorge lauches property fund

Real estate firm Biggeorge’s Group has been granted approval by the State Financial Supervisory Authority (PSzÁF) to launch the Biggeorge’s-NV 1. Property Development Fund, , which has been applauded by business daily Napi Gazdaság as an “exciting investment option” that is predicted to attract investor attention with its unusual features.

For one, the new investment vehicle will stand out as one of a few public real estate development funds in Hungary, where most property funds specialize in sale and lease, as opposed to development. Moreover, the fund will be launched through an issuance program, which has not yet become a popular option for securities other than bonds or mortgage bonds. PSzÁF also approved the shares of the new fund for trading at the Budapest Stock Exchange (BÉT), with CIB Bank Zrt acting as primary dealer. (Napi Gazdaság)