Real Estate Fund Halan AZ Closes First Hospitality Tranche in Cairo

Heritage buildings in Downtown Cairo are being converted into professionally managed stays following the closing of the first hospitality tranche by Halan AZ Real Estate Investment Fund.

The fund, established by MNT-Halan in partnership with Azimut Egypt, is described as Egypt’s first licensed and regulated diversified real estate investment trust.

The tranche was executed in partnership with Brassbell Hospitality Group, with MNP for Real Estate Solutions responsible for sourcing and due diligence. The fund said all assets undergo legal and physical assessments prior to investment.

The initial issuance was fully funded and marks the fund’s first deployment in the hospitality sector.

The platform is targeting the development and operation of around 700 additional keys across Egypt in 2026, with further investment rounds planned. The focus remains on heritage properties in central Cairo, aimed at expanding accommodation capacity while preserving architectural character.

The move comes as Egypt targets 30 million annual tourists by 2030 and faces demand for an estimated 200,000 additional hotel rooms. Tourism revenues reached $18.2 billion in 2025, with recent regulatory changes introducing licensing and classification frameworks for short-term and alternative accommodation.

“Brassbell tranche, under Halan AZ Real Estate Fund, launch represents a new chapter of Azimut’s efforts to make investing in alternative assets accessible,” Ahmed Abou Elsaad, CEO of Azimut Egypt, says. “We are making a new asset class accessible for more Egyptians to participate in the country’s real estate and hospitality growth.”

The initiative reflects increasing institutional interest in hospitality as an investment segment tied to tourism growth and urban regeneration.

Further tranches are expected to expand the platform’s footprint across additional locations in Egypt.