Halan AZ Real Estate Investment Fund (“Halan AZ”), Egypt’s first licensed and regulated diversified Real Estate Investment Trust (REIT), established by MNT-Halan in partnership with Azimut Egypt, has successfully closed its inaugural tranche, marking its official entry into professionally managed hospitality real estate assets.
The transaction was operated through Brassbell Hospitality Group (BHG), which will oversee hospitality operations and guest experience management. The acquisition process was executed by MNP for Real Estate Solutions, which sourced, reviewed, and finalized the underlying assets following comprehensive legal and technical due diligence.
The inaugural tranche was fully funded, reflecting strong investor appetite for regulated real estate investment products in Egypt and marking a key milestone for the country’s first diversified REIT entering the hospitality sector.
The portfolio includes carefully restored heritage buildings located in Downtown Cairo, which are being transformed into high-quality, professionally managed hospitality assets. The initiative aims to expand accommodation capacity while preserving Egypt’s architectural and cultural identity and revitalizing historic urban districts.
The platform is targeting the development and operation of approximately 700 additional hotel keys across Egypt in 2026, with further tranches planned as part of its expansion strategy.
This development comes amid strong growth in Egypt’s tourism sector, with the government targeting 30 million tourists annually by 2030 and an estimated need for 200,000 additional hotel rooms. Tourism revenues reached a record USD 18.2 billion in 2025, reinforcing the sector’s importance to the national economy.
Recent regulatory reforms have also strengthened the framework for hospitality and short-term accommodation assets, enabling greater institutional participation and market transparency.
According to Azimut Egypt CEO Ahmed Abou Elsaad, the transaction represents a new phase in expanding access to alternative investment assets in Egypt, combining asset management expertise with technology, distribution, and real estate capabilities.
MNP for Real Estate Solutions highlighted the sector’s resilience and inflation-hedging characteristics, emphasizing the transition of underutilized assets into income-generating institutional investments.
Brassbell Hospitality Group stated that it will focus on operating and enhancing hospitality assets while contributing to the revitalization of Downtown Cairo and expanding its footprint across key destinations in Egypt.
The Halan AZ REIT brings together leading players across asset management, fintech, real estate, and hospitality, including MNT-Halan, Azimut Egypt, Brassbell Hospitality Group, and MNP for Real Estate Solutions, alongside legal and advisory partners.
