ArabFinance: ODIN Investments in a partnership with, a Saudi-based investment company, KASB Capital will increase the volume of KASB Equity Fund to EGP 200 million as a first stage by the end of 2021, Al Mal News cited ODIN’s CEO Hashem El-Sayed.
ODIN is targeting to manage four funds by the end of 2021, El-Sayed said.
It manages its real estate fund, which amounted to EGP 2.5 billion at the end of 2020, as well as the ODIN Investment Fund of EGP 500 million in cooperation with KASB Capital, a Saudi based investment company, El-Sayed added.
The listed company reported a 15% Year on Year increase in its consolidated net loss in 2020, suffering EGP 2.48 million.
ODIN, formerly known as Egyptians Abroad for Investment and Development Company, aims to attract funds from Egyptians living abroad and invest them in the ongoing development of Egypt, with a focus on the real estate and financial services sectors.