Banque Misr to launch RE fund

Egypt’s Banque Misr is set to debut a US$16.1 million real estate fund.

It is expected to be launched in the first quarter of 2024, according to a news report from Asharq Business.

The fund will focus its investments in existing housing stock rather than new builds, states the report.

The state-owned Islamic bank is Egypt’s second largest state-run lender with more than 10 million customers.

It is not the bank’s first property-themed investment fund. In December 2022 it launched the Egypt Real Estate Investment Fund alongside Banque du Caire, Misr Insurance Holding Company and Allianz Egypt.

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