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. Mohamed El-Etreby — Chairperson of the Board of Directors of Banque Misr — said that the launch of this fund comes at the forefront of a series of real estate funds that Misr Investment Funds Management intends to issue. He also pointed out that Banque du Caire owns about 20% of the shares of Misr Company for Managing Investment Funds, while the bank’s share in the Egypt Real Estate Investment Fund is about EGP 100m. Furthermore, Basil Al-Heny — Chairperson of Misr Insurance Holding — explained that the group’s participation with an amount of EGP 100m in the establishment of Misr Real Estate Investment Fund 1 comes within the framework of the group’s strategy to focus on real estate investment, as the group owns the largest institutional real estate portfolio in Egypt.

Source: Daily News Egypt December 21, 2022 11:21 UTC