Egypt's Awaed Property Fund Raises EGP 1.77bn in Second Issuance for New Cairo Assets
Written on
Awaed Real Estate Investment Fund has closed a second issuance worth EGP 1.77 billion (USD 31.6 million), with the proceeds earmarked for income-generating assets in Madinaty and Al Rehab.
Awaed Real Estate Investment Fund has concluded its second issuance, raising an additional EGP 1.77 billion (USD 31.6 million) as it seeks to fund acquisitions in New Cairo. Barakat, Maher & Partners, the Cairo firm operating in association with Clyde & Co, advised on the transaction.
The issuance opened for subscription in September and was divided into 17,728,114 investment units at a nominal price of EGP 100 (USD 1.78) each. The fully subscribed offer received final clearance from the Egyptian Financial Regulatory Authority on 4 October.
Awaed intends to deploy the proceeds into income-generating assets in the Madinaty and Al Rehab areas of Egypt's New Cairo satellite city. The fund's first issuance in May 2026 raised EGP 7.96 billion (USD 142 million), earmarked for core income and development projects in Madinaty.
"We are delighted to continue supporting Awaed Real Estate Investment Fund as it reaches another important milestone. The successful completion of this second issuance demonstrates the continued development of Egypt's real estate investment funds market and the growing opportunities it presents to institutional and qualified investors," said Mostafa Elsakka, head of capital markets at Barakat, Maher & Partners, who led the transaction.
Elsakka acted for Awaed with senior associate Walid Enany and associate Omar Mahmoud. The deal adds to a busy period for Egyptian property capital markets, with the fund now holding a larger pool of committed capital for income-producing real estate in the country's eastern Cairo growth corridor.