Egypt’s Waterway plans to launch a real estate fund exceeding $190m

LONDON: Egypt’s The Waterway Developments plans to establish a real estate investment fund worth 10 billion Egyptian pounds ($190.2 million) in the first half of this year to help finance its project spending, CEO Hossam Hassan told Asharq. The planned fund will be backed by income-generating real estate assets owned by the company across commercial, administrative, and residential segments, Hassan said, adding that the firm holds leased assets worth about 40 billion pounds that generate stable, recurring returns and will be placed under the fund.