CI Capital, TMG back $154 million investment fund for Madinaty projects

CI Capital Holding and Talaat Moustafa Group are backing a $154 million real estate investment fund targeting commercial property inside Madinaty, one of Egypt’s fastest-growing urban megaprojects.

The Awaed Real Estate Fund, with a target size of EGP 8 billion ($154 million), will focus on income-generating commercial real estate, including retail, office, and mixed-use assets across the master-planned community east of Cairo.

The initiative highlights growing investor demand for Egypt real estate funds, commercial property investment, and mixed-use developments linked to large urban communities.

According to a disclosure to the Egyptian Exchange, ownership of the fund will be split 51% to CI Capital PE for Fund Management and Investment and 49% to the Arab Company for Projects and Urban Development, a subsidiary of Talaat Moustafa Group.

Bet on Egypt’s growing commercial property market

The new fund will operate under the supervision of the Financial Regulatory Authority, reinforcing Egypt’s strategy to expand its alternative investment and real estate fund ecosystem.

As fund manager, CI Capital PE will oversee portfolio strategy, asset acquisition and investor partnerships, while a Talaat Moustafa subsidiary will manage development, marketing and sale of acquired real estate assets.

The structure is designed to combine institutional capital with large-scale development expertise, positioning the fund to capture rising demand for retail and commercial space in integrated urban developments.

Madinaty itself has become a magnet for residents, retailers and international investors, driven by its master-planned infrastructure, residential communities and growing commercial districts.

Institutional capital flows into Egypt’s megaprojects

The transaction was coordinated by CI Capital for Promotion and Underwriting in Securities, which acted as sole transaction coordinator, subscription bookrunner and lead financial adviser, while also serving as exclusive financial adviser to Talaat Moustafa Group.

The launch underscores the growing role of private equity real estate funds in Egypt, as institutional investors increasingly target assets linked to mega urban developments, smart cities and mixed-use commercial districts.

CI Capital expands investment banking footprint

Cairo-based CI Capital is one of Egypt’s leading investment banking and financial services groups, providing leasing, asset management, microfinance and capital markets advisory to corporates, institutions and high-net-worth investors.

The firm reported EGP 10.2 billion ($196 million) in revenue and EGP 1.6 billion ($30.7 million) in net profit after minority interest in 2025, underscoring strong momentum in Egypt’s financial services sector.

Operating from Cairo with regional offices in New York and Dubai, the group services global institutions, regional investors, family offices and SMEs seeking exposure to high-growth emerging markets.

TMG doubles down on large-scale urban communities

Talaat Moustafa Group remains Egypt’s largest publicly listed real estate developer, with more than five decades of experience building master-planned cities and luxury residential communities.

Its flagship projects include Madinaty, Al Rehab and Celia, along with the 10-million-square-meter Banan City development in Saudi Arabia, reflecting the company’s regional expansion strategy.

TMG controls a land bank of roughly 125.9 million square meters, making it one of the Middle East’s most influential urban development and real estate investment players.

In the first half of 2025, the developer recorded EGP 211 billion ($4 billion) in property sales, driven by strong demand for large-scale developments such as the SouthMed coastal project.