Arab African International Bank Launches New Real Estate Asset Management Company in Egypt with Target Portfolio of EGP 5 Billion
The Arab African International Bank (AAIB) has launched a new company specialized in real estate asset management in Egypt, with a targeted portfolio valued at around EGP 5 billion, according to two senior bank officials who spoke to Asharq on condition of anonymity.
The report noted that the ownership structure of the new company is shared between the bank and its holding arm, marking a significant step in expanding the institution’s footprint in direct investment and asset management. Founded in 1964 as a joint venture between the Egyptian government and the Kuwait Investment Authority, AAIB is equally owned by both parties with a 49.37% stake each.
Expanding into Real Estate Asset Management
The move reflects a broader trend among Egypt’s leading banks entering the real estate asset management sector. In 2020, the National Bank of Egypt (NBE) and Banque Misr jointly established Rawasi to acquire assets from Talaat Moustafa Group. The two banks, along with other financial institutions, also launched First Design for Development and Real Estate Investment the same year to develop major projects in Madinaty and Al-Rehab.
Diversified Investment Arm
AAIB has maintained a diversified investment arm since 2006 through Arab African Investment Holding, which manages a range of activities including asset management, brokerage, leasing, mortgage finance, and microfinance via Sanda.
The establishment of the new real estate asset management company underscores AAIB’s strategy to diversify revenue streams and strengthen its position in Egypt’s growing property and investment markets.