Back to the complete issue
Monday, 25 February 2019

Egypt’s first real estate fund to launch in March

Egypt’s first listed real estate fund to launch in March: The Egyptians Real Estate Fund will be up and running by no later than March, CEO Hashem El Sayed told the domestic press. Billing itself as the country’s first listed real estate fund and established by Egyptians Abroad Investment and Development Co., Pioneers Holding, and Misr Iran Development Bank, the fund will invest in real estate projects worth EGP 2.5 bn. These include an EGP 1.5 bn project on the Maadi corniche (on which work will begin in early December) and acquiring a 6,000 sqm administrative building in Smart Village to lease to multinational corporations. The fund listed on the EGX last year, and is planning further public and private offerings of in-kind assets and cash in the coming period to reach its target size of EGP 2.5 bn.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; and Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Abu Auf (tax ID: 584-628-846), the leading health foodmaker in Egypt and the region.