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A subsidiary of Egypt-based Banque Misr plans to establish a hotel fund worth 3 billion Egyptian pounds ($56.51 million) in the first half of 2026.
Misr Capital will launch the fund, which will target both public and private hotel assets in the North Coast, the Red Sea and the Grand Egyptian Museum area, Asharq Business reported, quoting two unnamed sources.
The fund will support the expansion of hotel rooms as part of the government’s plan to attract 21 million tourists and $35.4 billion in investment by 2031.
Misr Capital launched its first real estate investment fund with initial capital of EGP 360 million in December 2022.
(Writing by P Deol; Editing by Anoop Menon )
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