Banque Misr, Egypt’s second largest state-run lender, intends to launch a new real estate investment fund worth EGP 500 million, Asharq Business reported on July 24th, citing unnamed sources familiar with the matter.

The fund is expected to be launched during the first quarter (Q1) of 2024.

It will focus on investing in existing housing units, according to the source.

In December 2022, Banque Misr launched the EGP 500-million Egypt Real Estate Investment Fund 1 in partnership with Banque du Caire, Misr Insurance Holding Company, and Allianz Egypt.

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