Azimut Egypt is pursuing an ambitious goal to achieve a fund size of one billion Egyptian pounds for its 'Halan Azimut' fund during the current year. Ahmed Abou El Saad, the managing director of the company, confirmed that the fund will acquire a number of hotel rooms ranging between 600 and 700, reflecting the company's strong investment direction in the tourism sector.
In his remarks to 'Al-Borsa', Abou El Saad explained that the company has closed the first subscription for the fund, which is a preliminary step aimed at initiating activity and testing the business model. The investment portfolio began with only 50 rooms and investments totaling 50 million pounds. This model reflects Azimut's strategy to test the market before significant expansion.
Event Details
The new fund represents the first investment issuance of its capital in professionally managed real estate assets, and comes as part of a strategic partnership between MNT-Halan and Azimut Investments. This partnership aims to provide new investment tools in the local market and enhance investment opportunities in the tourism sector.
The MNB Real Estate Solutions Company identified the investment opportunity and conducted legal and technical due diligence, while 'Azimut Egypt' managed the offering process as the fund manager. 'MNT-Halan' played the role of distributor to attract investors, while the Brassbel Hospitality Group manages and operates the hotel assets.
Background & Context
This development comes amid strong growth in Egypt's tourism sector, with the country targeting to welcome 30 million tourists annually by 2030. To achieve this goal, there is an urgent need to add around 200,000 new hotel rooms. Egypt's tourism revenues reached 18.2 billion dollars during 2025, highlighting the sector's importance in supporting the national economy.
The investment portfolio of the issuance includes a collection of heritage buildings in downtown Cairo, which have been restored and converted into hospitality facilities, contributing to increasing hotel capacity while preserving the historical architectural character of the area.
Impact & Consequences
The 'Halan Azimut' fund is expected to contribute to enhancing investments in the tourism sector, positively impacting the Egyptian economy. Additionally, this type of investment fund may encourage more investors to enter the market, boosting the sector's competitiveness.
This step is also part of the Egyptian government's efforts to enhance tourism infrastructure, contributing to improving the experience of tourists and increasing the number of visitors to the country. The presence of new investments in the hotel sector may lead to the creation of new job opportunities and improve the standard of living in surrounding areas.
Regional Significance
The experience of the 'Halan Azimut' fund serves as a model to be emulated in the Arab region, potentially inspiring other countries to develop similar investments in the tourism sector. With the growing interest in tourism as a primary source of income, enhancing investments in this sector can contribute to achieving sustainable development.
In conclusion, the 'Halan Azimut' fund represents a strategic step towards boosting investments in tourism, contributing to achieving the country's economic goals and enhancing Egypt's position as a global tourist destination.