Banque Misr plans to launch EGP 500mln new real estate fund

Banque Misr, Egypt’s second largest state-run lender is planning to launch a new real estate investment fund worth 500 million Egyptian pounds, according to Asharq Business on July 24th, citing unnamed sources familiar with the matter.

The source further added that the new fund is expected to be launched during the first quarter (Q1) of 2024, adding that it will focus on investing in existing housing units without entering the properties under construction and development.

Last December, the bank has launched its first real estate investment fund in partnership with Banque du Caire, Misr Insurance Holding Company (MIHC), and Allianz Insurance Companies, with an initial value of 360 million pounds.