FRA keeps up the pace in opening up the retail-focused real estate investment market

Six companies have landed licenses from the FRA to operate in real estate funds, factoring, and asset management, according to a statement from the authority. It’s the latest in what we think of as toward the app-ification of Egyptian real estate market.

The breakdown: EFG Corp-Solutions is broadening its NBFI footprint after securing a license to add mortgage finance to its existing operations. Digital brokerage Thndr is now authorized to bundle its own real estate investment funds — moving from a pure distributor to a product creator — while Nawy Shares secured a license to manage funds, effectively institutionalizing the “fractional property” model. Rounding out the list were BFI Cash (factoring), Awayed (real estate funds), and Okaz (asset management).

Golden licenses for two new manufacturing plants

Two projects worth a combined EGP 15.1 bn will move towards completion faster after landing golden licenses from Cabinet.

#1- Mansour Auto’s EGP 6.3 bn MAC Mobility & Manufacturing plant in 6 October City will assemble passenger cars, light and medium transport vehicles, buses, and automotive components. The project is expected to come online in 2027 and could create as many as 1k jobs.

#2- China’s Deli Group is building an EGP 8.8 bn plant in Tenth of Ramadan, where the company will manufacture stationery (including office supplies and school products) as well as sports goods. The project is also expected to come online in early 2027.

Cairo banks eying Baghdad?

A number of Egyptian banks are exploring potential joint ventures in Iraq. Al Borsa writes that Iraqi Central Bank Governor Ali Al Alaq said Egyptian lenders are studying potential partnerships with Iraqi peers.

The why: More Egyptian companies are moving into Iraq. By covering their needs on the ground there, Egyptian lenders can provide the letters of credit, performance bonds, and payroll services that have long been the primary friction points for local contractors and exporters looking to capitalize on Iraq’s massive construction appetite. Non-construction companies are also looking at Iraq, including pathfinder Edita Food Industries, which earlier this year moved a bakery line there in a bid to accelerate its rollout there.

And it's a two-way street, with Al Alaq noting that Baghdad is awaiting CBE approval to reopen the Egyptian branch of Iraqi state-owned lender Rafidain Bank, which was shuttered years ago due to regulatory hurdles.

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