Egypt's Financial Regulatory Authority (FRA) said on Tuesday that three digital platforms—Nawy, SAFE (affiliated with Madinet Masr for Housing and Development), and Saqr, operator of the Farida platform—have initiated procedures to establish real estate investment funds and obtain licences for fund promotion, underwriting, and management. The move is part of a broader effort by the regulator to legalise the operations of online platforms offering fractional property investments and bring them under the framework of non-banking financial regulations. The FRA said it had held a series of consultations with the platform operators to assess their business models and determined that real estate investment funds provide the most suitable legal structure for activities involving property share sales. The new framework aims to expand access to real estate investment, diversify funding sources, and enhance investor protection. The regulator also said the initiative reflects growing compliance among fintech players following the discovery of unlicensed property investment activity on social media. The FRA reaffirmed its commitment to fostering innovation while maintaining regulatory oversight in the non-banking financial sector. "This step is aligned with our strategy to strengthen and stabilise the non-bank financial markets and safeguard all stakeholders," the FRA said in a statement. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
