Misr Italia is preparing to launch a real estate fund targeting foreign investors

Real estate developer Misr Italia is currently preparing to launch a real estate fund, Chairman Hanny El Assal tells Al Shorouk. The fund will target foreign investors and focus on investing in hotels, as well as administrative and commercial properties, El Assal said without providing additional detail. Egypt’s first-ever real estate fund — which was set up by an alliance of the Egyptians Abroad Investment and Development Company, Pioneers Holding, and Misr Iran Development Bank — began trading on the EGX back in March, with officials saying that the EGP 80 mn fund would prepare for a second issuance in 2H2018.