Real Estate Investment Fund 1 launched

Banque Misr — in cooperation with Banque du Caire, Misr Insurance Holding Group, and Allianz Egypt, launched the Misr Real Estate Investment Fund 1, which will invest in commercial real estate assets with a periodic return, allowing a new investment mechanism in the real estate market. 

This mechanism will enable investors to invest in direct real estate as well as distribute risks on several properties owned by the fund.

Egyptian and multinational financial institutions subscribed in the first issuance with a value of EGP 360m of the total target fund size of EGP 500m and the contribution of Banque Misr, Banque du Caire, Misr Insurance Holding Group, and its subsidiaries amounting to EGP 100m, while the contribution of Allianz Egypt amounted to EGP 60m.