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Wednesday, 28 March 2018

Egypt’s first real estate fund begins trading on the EGX

Egypt’s first real estate fund began trading on the EGX yesterday, according to Al Shorouk. The EGP 80 mn fund — a tie in between the Egyptians Abroad Investment and Development Company, Pioneers Holding, and Misr Iran Development Bank — will invest in four real estate projects worth a combined EGP 2.5 bn, including a hotel and a commercial project, the fund’s CEO says. Other projects in Asyut, Minya, and Gharbiya are also under study.

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