Arab Finance: Halan AZ Real Estate Investment Fund has closed the inaugural tranche of its diversified real estate investment trust (REIT), marking its first investment in hospitality assets through a partnership with Brassbell Hospitality Group, as per an emailed press release.
The fund, Egypt’s first licensed and regulated diversified real estate investment trust, was established by MNT-Halan in partnership with Azimut Egypt. The initial tranche was fully funded, reflecting demand for exposure to professionally managed hospitality real estate.
The transaction was brought to market by MNP for Real Estate Solutions, which sourced, processed, and closed the deal on behalf of the fund. The portfolio underwent a structured acquisition process that included legal due diligence and physical inspections prior to capital deployment.
Brassbell Hospitality Group will oversee the operational management of the assets, focusing on guest experience and day-to-day operations across the portfolio. The properties consist of restored heritage buildings in Downtown Cairo, repositioned as hospitality assets.
The investment is aligned with broader efforts to expand accommodation capacity while preserving architectural heritage and supporting the revitalization of historic districts.
Halan AZ is targeting the development and operation of around 700 additional keys across Egypt in 2026, with further tranches expected to follow as the platform scales.
The move comes amid continued growth in Egypt’s tourism sector, with government targets set at 30 million annual visitors by 2030 and an estimated need for 200,000 additional hotel rooms. Tourism revenues reached $18.2 billion in 2025, underscoring the sector’s role in the economy.
Recent regulatory changes have introduced licensing and classification frameworks for short-term and alternative hospitality assets, supporting the formal integration of previously fragmented segments into institutional investment structures.
The fund brings together a group of institutions across asset management, fintech, real estate, and hospitality. MNT-Halan acts as co-sponsor and distributor, Azimut Egypt serves as co-sponsor and fund manager, Brassbell Hospitality Group operates the hospitality platform, and MNP for Real Estate Solutions acts as property manager. Maatouk Bassiouny & Hennawy serves as legal counsel, while Moore acts as fund auditor and tax advisor.
Ahmed Abou Elsaad, CEO of Azimut Egypt, said: “Brassbell tranche, under Halan AZ Real Estate Fund, launch represents a new chapter of Azimut’s efforts to make investing in alternative assets accessible and considered a continuation to the reshaping of the asset management industry that Azimut started 6 years ago."
"By combining our asset management and financial and investment products development expertise with our partners technology, distribution, and real estate expertise and capabilities, we are making a new asset class accessible for more Egyptians to participate in the country’s real estate prosperity as well as the hospitality industry story,” Elsaad noted.
Meanwhile, Ahmed Ibrahim, Chairman and CEO of Brassbell Hospitality Group, commented: “This milestone reflects the growing institutional confidence in hospitality as a scalable real estate asset class in Egypt. Through this platform, Brassbell will focus on operating and elevating hospitality assets to deliver consistent guest experiences and strong operational performance."
"Beginning with the transformation of heritage buildings in Downtown Cairo, our vision is to build a portfolio of professionally operated hospitality destinations that contribute to the revitalization of historic districts while supporting Egypt’s rapidly expanding tourism sector. Looking ahead, Brassbell plans to continue expanding its operational footprint across key destinations in Egypt through future investment tranches under the Halan AZ platform,” he added.
