Key Takeaways
- • Barakat, Maher & Partners in association with Clyde & Co advised Misr Multi-Issuance Real Estate Investment Fund on a second issuance targeting EGP 2.3 billion, comprising 23 million certificates at EGP 100 nominal value per certificate.
- • The private placement achieved 97.6% subscription with 22.45 million certificates fully allocated, raising EGP 2.245 billion and signaling strong institutional appetite for Egyptian real estate investment vehicles.
- • Misr Multi-Issuance Real Estate Investment Fund, a subsidiary of Banque Misr, received final regulatory approval from Egypt's Financial Regulatory Authority (FRA) on June 21, 2026, for the second issuance under Capital Market Law No. 95 of 1992.
- • The deal demonstrates continued investor confidence in Egypt's real estate sector and positions Barakat, Maher & Partners as a lead counsel on structured Egyptian real estate finance transactions.
Summary
Barakat, Maher & Partners, in association with Clyde & Co, has successfully closed an advisory mandate on a major Egyptian real estate investment fund offering. The law firm's Capital Markets team, led by Partner Mostafa El-Sakka, advised Misr Multi-Issuance Real Estate Investment Fund on the private placement of its second issuance targeting EGP 2.3 billion to qualified institutional investors.
The offering structure comprised 23 million certificates, each with a nominal value of EGP 100. The placement achieved strong subscription levels, with 22.45 million certificates (97.6% of the target) fully allocated, raising EGP 2.245 billion. This near-complete take-up underscores institutional investor appetite for regulated real estate investment vehicles in Egypt's capital markets. Misr Multi-Issuance Real Estate Investment Fund, a subsidiary of Banque Misr, operates under Capital Market Law No. 95 of 1992 and is regulated by Egypt's Financial Regulatory Authority. The FRA issued its final approval for the second issuance on June 21, 2026.
The transaction is notable both for deal scale and regulatory positioning. As one of Egypt's pioneering real estate investment fund companies, the Fund's ability to execute a substantial second issuance reflects institutional confidence in the asset class and Banque Misr's market standing. The legal team supporting the transaction included Senior Associate Walid Enany, Associate Omar Mahmoud, and Trainee Associate Hana El-Helbawy at the Cairo office. This advisory engagement is consistent with Barakat, Maher & Partners' standing in Egyptian capital markets practice, where the firm has established itself as counsel to structured real estate finance transactions and institutional fund offerings.
The offering structure comprised 23 million certificates, each with a nominal value of EGP 100. The placement achieved strong subscription levels, with 22.45 million certificates (97.6% of the target) fully allocated, raising EGP 2.245 billion. This near-complete take-up underscores institutional investor appetite for regulated real estate investment vehicles in Egypt's capital markets. Misr Multi-Issuance Real Estate Investment Fund, a subsidiary of Banque Misr, operates under Capital Market Law No. 95 of 1992 and is regulated by Egypt's Financial Regulatory Authority. The FRA issued its final approval for the second issuance on June 21, 2026.
The transaction is notable both for deal scale and regulatory positioning. As one of Egypt's pioneering real estate investment fund companies, the Fund's ability to execute a substantial second issuance reflects institutional confidence in the asset class and Banque Misr's market standing. The legal team supporting the transaction included Senior Associate Walid Enany, Associate Omar Mahmoud, and Trainee Associate Hana El-Helbawy at the Cairo office. This advisory engagement is consistent with Barakat, Maher & Partners' standing in Egyptian capital markets practice, where the firm has established itself as counsel to structured real estate finance transactions and institutional fund offerings.
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