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.
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