Introducing Halan-Azimut: Fintech player MNT-Halan and asset manager Azimut are gearing up to launch Halan-Azimut after securing approval from the Financial Regulatory Authority (FRA) to establish Egypt’s first licensed digital platform for trading real estate investment fund (REIF) securities, according to a statement from the authority. The move marks a key step in bringing fractional property ownership to local investors through regulated digital certificates, according to the statement.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

The two companies are looking to increase the fund’s capital to EGP 2 bn, Azimut Managing Director Ahmed Abou El Saad told EnterpriseAM earlier this year. Although the plan may have changed, Abou El Saad had told us that Halan-Azimut would start with an initial capital of EGP 250 mn.

The fund will be open to both retail and institutional investors while offering greater flexibility for unit holders in terms of liquidation and transferability — without being listed on the EGX, Abou El Saad explained to us. This structure is designed to make the fund accessible to a wider range of investors.

What’s next? The FRA is now reviewing the prospectus for the fund’s first issuance ahead of its rollout.

REMEMBER- The FRA has recently rolled out a new framework for fractional real estate investment, allowing investors to buy and trade units in real estate funds under tighter governance and disclosure rules. The move aims to expand access to property-backed investment vehicles and deepen liquidity in the domestic non-bank financial markets.

Tags: