fbpx
Read Watch
Real Estate

Banque Misr, Banque du Caire, MIHC, and Allianz Egypt launch Misr Real Estate Investment Fund 1

The fund has a target capital of EGP 500 million
by WAYA Staff - Dec 21, 2022
Banque Misr, Banque du Caire, MIHC, and Allianz Egypt launch Misr Real Estate Investment Fund 1

Banque Misr launches the Misr Real Estate Investment Fund 1 in partnership with Banque du Caire, Misr Insurance Holding Company (MIHC), and Allianz Egypt. The fund has a target capital of EGP 500 million and will invest in commercial real estate properties that have regular returns.

The fund’s first issuance raised 360 million EGP and will be distributed among the banks and MIHC which secures EGP 100 million stakes each, while Allianz Egypt secures EGP 60 million.

Banque Misr’s Chairman Mohamed El-Etreby, states that the Misr Real Estate Investment Fund 1 is a part of a group of real estate investment funds that the bank plans to launch in the coming period.

If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.

Recommended stories

Egypt’s CheckMe acquires virtual clinic app DoctorOnline

by WAYA Staff - Dec 20, 2022
Egypt’s CheckMe acquires virtual clinic app DoctorOnline

CheckMe acquires a majority stake in DoctorOnline, this acquisition deal brings CheckMe’s market value to $20 million. “This acquisition falls in line with our expansion strategy in the region and in line with the expansion of our service offering. According...

Read More