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Thursday, 29 March 2018

Egypt’s first real estate fund prepares for second issuance in 2H2018

Egypt’s first real estate fund prepares for second issuance in 2H2018: Egypt’s first real estate fund is preparing for a second stock issuance for in-kind assets and cash in 2H2018 to increase the size of the EGP 80 mn fund, CEO Hashem El Sayed said. The fund is currently in talks with an unnamed Arab company to bring one of its malls under the fund’s umbrella in an all-stock transaction, according to El Sayed. The fund, which was set up by an alliance of the Egyptians Abroad Investment and Development Company, Pioneers Holding, and Misr Iran Development Bank, officially began trading on the EGX on Tuesday.

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