Beltone and Amtaar Launch EGP 2bn Multi-Issuance Real Estate Fund
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Beltone Asset Management and Amtaar Capital have partnered on a multi-issuance real estate investment fund targeting total issuances of EGP 2 billion, with a first issuance expected to range between EGP 500 million and EGP 700 million.
Beltone Asset Management, a subsidiary of Beltone Holding, and Amtaar Capital have announced a partnership on a multi-issuance real estate investment fund, currently under establishment, with total targeted issuances of EGP 2 billion.
The fund's first issuance is expected to range between EGP 500 million and EGP 700 million. Under the structure, Beltone Asset Management will establish and manage the fund and oversee asset selection in line with its investment strategy, while Amtaar Capital will provide the digital platform through which investors can access the investment opportunity for the first issuance.
The fund will enable investors to invest in real estate fund units through Amtaar Capital's digital platform, offering exposure to income-generating properties without the need to purchase or directly own an entire property. Investors will be able to participate starting from EGP 1,000, and may benefit from rental income generated by the underlying real estate assets alongside potential capital appreciation, subject to the fund's investment strategy, performance and applicable terms.
Khaled Darwish, CEO of Beltone Asset Management, said real estate investment is an important component of many investors' portfolios but that direct ownership typically requires significant capital and can lead to concentration in a single asset, adding that the partnership with Amtaar provides a different route to professionally managed real estate investment. Amr Afifi, Co-Founder and CEO of Amtaar Capital, said the tie-up brings together Amtaar's digital real estate ecosystem and Beltone Asset Management's investment management expertise to make real estate investment more accessible to a broader range of investors.
Beltone Asset Management, established in 2004, is described as Egypt's largest independent asset manager and manages investments across more than 20 markets in the Middle East and North Africa. Amtaar is an Egyptian digital platform specialising in fractional real estate investment and is a formally licensed company regulated by the Financial Regulatory Authority (FRA).