Sakr said the new offering represents an unprecedented
milestone in the Egyptian property market, marking the first issuance of real
estate investment certificates within a multi-issuance fund. These certificates
will be tradable in the future through mechanisms developed in cooperation with
Misr for Central Clearing, Depository and Registry (MCDR) and in line with
decisions by the Financial Regulatory Authority (FRA).
The offering includes three of Marakez’s key projects:
Campus+ in the new expansions of District 5 to meet rising demand for office
spaces; Crescent Walk in East Cairo, comprising 14 residential buildings and a
number of villas; and Ramla on the North Coast, a 400-feddan project at
kilometer 215, with the first phase scheduled for delivery next year.
He added that investors will be able to acquire real estate
investment certificates linked to these projects, ensuring combined returns
from all three simultaneously. Marakez is offering installment plans of up to
eight years, compared to a maximum of six years previously in the
administrative market at District 5.
Sakr noted that all three projects will be Branded By LUXOR,
making the offering the first of its kind to combine the first branded office
building in East Cairo and the first branded residences in New Cairo’s Sixth
Settlement.
He confirmed that the launch will take place next Monday at
3:00 p.m. Cairo time, with subscriptions available exclusively via the Farida
platform and capped at 40 shares per individual investor.