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UAE-Based HR Technology Startup Bayzat Raises USD 25M Series C Round

LE 500 Million Investment Fund Launched by Major Egyptian Banks

With a target capital of LE 500 million, the fund will invest in commercial real estate assets with consistent returns.

Date
22/12/2022 15:05

Egyptian banking institutions Banque Misr and Banque du Caire, alongside major private insurance companies Misr Insurance Holding Company (MIHC) and Allianz Egypt, have partnered together to introduce the Misr Real Estate Investment Fund 1.


With a target capital of LE 500 million, the fund will invest in commercial real estate assets with consistent returns, all with the aim of boosting the private sector. 


The fund's initial offering, which raised LE 360 million, will be split among the banks, MIHC, and Allianz Egypt, each of which secured holdings worth LE 100 million.




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