Our friends at GRANITEare planning to launch a real estate investment fund with a target capital of EGP 10 bn by the end of 2026, founder and CEO Hisham Akram told Asharq Business. The fund, which will be set up in partnership with an unnamed developer, will pivot away from traditional residential plays to focus on “ready-to-move” commercial and administrative assets that generate steady rental yields.

The pattern: Fractional real estate is inching toward becoming its own asset class in Egypt, with players including Bonyan, Madine Masr, and Halan approaching the industry from different entry points.

Lenders back Alamein Silicon complex with USD 140 mn loan

Alamein for Silicon Products has secured a USD 140 mn long-term syndicated loan from a group of local lenders, including QNB Egypt, CIB, and Banque du Caire to fund the first phase of its manufacturing complex in New Alamein, according to a statement. The National Bank of Egypt is the financial advisor for the project.

What’s next: The USD 200 mn first phase of the silicon manufacturing and refining complex will have an annual capacity of 45k tons and provide over 3.3k direct and indirect jobs. Future phases will see the production of polysilicon — used in the production of electronics and solar cells — as well as silicone intermediate and finished silicon products, such as rubber and oil. The project will position Egypt as a regional hub for silicon industries and significantly reduce our industrial import bill.

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