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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.
Dec 22, 2022
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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