Key Takeaways
- • Barakat, Maher & Partners in association with Clyde & Co served as legal advisor on the launch of Awaed Real Estate Investment Fund, Egypt's largest real estate investment fund with an investment volume of EGP 8 billion.
- • The Fund is overseen by the Financial Regulatory Authority (FRA) and established as a joint stock company in partnership with Arab Company for Project & Urban Development (a Talaat Motsafa Group subsidiary) and CI Capital.
- • The Fund's first private placement was fully subscribed by leading Egyptian financial institutions, with its investment portfolio focused on commercial units generating rental income and development of two plots within Madinaty Project, a major East Cairo real estate development.
- • The transaction was led by Mostafa Elsakaa, Partner and Head of Capital Markets at the Cairo office, supported by senior associates Moataz El Sherbini and Walid Enany, and associates Omar Mahmoud and Mahmoud Toraya.
Summary
Barakat, Maher & Partners, in association with Clyde & Co, has acted as legal counsel for the establishment of Awaed Real Estate Investment Fund, marking a significant milestone in Egypt's real estate investment fund sector. The fund represents the largest of its kind by investment volume, capitalized at EGP 8 billion and structured as a joint stock company under the oversight of Egypt's Financial Regulatory Authority (FRA) in accordance with Capital Market Law No. 95 of 1992.
The fund was established through a partnership between Arab Company for Project & Urban Development, a subsidiary of the Talaat Motsafa Group (TMG), and CI Capital. The fund's investment strategy centers on generating returns through commercial rental units and the development of two plots located within Madinaty Project, one of Egypt's most significant real estate developments in East Cairo. The successful completion of the fund's first private placement, which was fully subscribed by prominent Egyptian financial institutions, underscores institutional confidence in the fund's structure and underlying asset portfolio.
The legal team leading the transaction included Mostafa Elsakaa as Partner and Head of Capital Markets in the Cairo office, with support from senior associates Moataz El Sherbini and Walid Enany, alongside associates Omar Mahmoud and Mahmoud Toraya. This engagement reflects the expanding presence of Clyde & Co's Cairo office, which has established itself as a transactional advisory platform across M&A, private equity, regulatory, and corporate matters since its opening two years prior to this transaction.
The fund was established through a partnership between Arab Company for Project & Urban Development, a subsidiary of the Talaat Motsafa Group (TMG), and CI Capital. The fund's investment strategy centers on generating returns through commercial rental units and the development of two plots located within Madinaty Project, one of Egypt's most significant real estate developments in East Cairo. The successful completion of the fund's first private placement, which was fully subscribed by prominent Egyptian financial institutions, underscores institutional confidence in the fund's structure and underlying asset portfolio.
The legal team leading the transaction included Mostafa Elsakaa as Partner and Head of Capital Markets in the Cairo office, with support from senior associates Moataz El Sherbini and Walid Enany, alongside associates Omar Mahmoud and Mahmoud Toraya. This engagement reflects the expanding presence of Clyde & Co's Cairo office, which has established itself as a transactional advisory platform across M&A, private equity, regulatory, and corporate matters since its opening two years prior to this transaction.
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