Egypt Launches $260 Million Real Estate Fund Targeting Madinaty Development
Cairo, Egypt – A new real estate investment fund, the Awaed Real Estate Fund, has been launched in Egypt with a target size of 8 billion Egyptian pounds (approximately $260 million USD), focusing on commercial properties within the Madinaty development. The fund is a partnership between CI Capital Holding and Talaat Moustafa Group (TMG), two of Egypt’s leading investment firms.
The launch, announced Wednesday, aims to capitalize on the growing demand for commercial space in Madinaty, a large-scale urban community east of Cairo. CI Capital PE for Fund Management and Investment (CIPE), a subsidiary of CI Capital Holding, will manage the fund, overseeing contracting and overall operations.
According to a disclosure to the Egyptian Exchange, CI Capital PE holds a 51% stake in the fund, while the Arab Company for Projects and Urban Development – a subsidiary of TMG – owns the remaining 49%. TMG will also be responsible for the development and sale of the real estate assets acquired by the fund.
The fund’s establishment was completed under the supervision of the Financial Regulatory Authority, highlighting the government’s support for attracting investment into the real estate sector. CI Capital for Promotion and Underwriting in Securities served as the sole transaction coordinator, subscription bookrunner, and lead financial advisor for the fund, also acting as exclusive financial advisor to TMG.
This investment comes at a time of significant economic development in Egypt, with the real estate sector playing a crucial role in driving growth. The Madinaty project, known for its modern infrastructure and comprehensive amenities, is expected to benefit significantly from the new fund, further boosting commercial activity in the area.
