Arab Finance: Minister of Housing, Utilities, and Urban Communities Randa El-Menshawy has discussed a proposal to establish a real estate investment fund to maximize returns on assets owned by the New Urban Communities Authority (NUCA), as per a statement.
This aligns with the government’s plans to attract local and foreign investment and secure sustainable financing for urban development projects.
The proposed fund aims to unlock the economic value of NUCA’s real estate portfolio, generate additional liquidity and funding streams, and build a diversified portfolio capable of delivering attractive investment returns and sustainable revenues.
The discussions also focused on creating innovative investment strategies to improve asset management efficiency, diversify financing sources, and strengthen the authority’s capacity to fund urban development projects amid the expansion of new cities.
El-Menshawy stressed the importance of exploring different investment models based on the specific characteristics, potential, and development opportunities of each asset to maximize returns and ensure optimal utilization.
Banque Misr and Founders Real Estate, a subsidiary of Hyde Park Developments, earlier signed EGP 10 billion financing agreements to fund the purchase and marketing of assets owned by the NUCA.
