Cairo – Mubasher: Banque Misr, in partnership with Banque du Caire, Misr Insurance Holding Company (MIHC), and Allianz, launched a real estate investment fund with a target capital of EGP 500 million.
The fund, named Misr Real Estate Investment 1, reached an EGP 360 million first close with each of the three state entities contributing EGP 100 million and Allianz contributing the remaining sum, according to a recent statement.
The new fund will invest in commercial properties with regular returns and will help real estate investors achieve good returns and distribute risks on multiple real estate properties owned by the fund.
