Misr Capital plans to set up a EGP 500 mn real estate investment fund, according to Hapi Journal, citing sources familiar with the matter. The Banque Misr subsidiary has submitted to the Financial Regulatory Authority (FRA) the incorporation documents for the company, which will invest directly in real estate assets, rather than purchasing shares in EGX-listed real estate companies.

Advisers: Baker McKenzie are reportedly providing legal counsel to the state-owned bank.

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