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Abraaj Capital real estate fund makes acqusition

Abu Dhabi-based private equity firm Abraaj Capital has announced the first acquisition by its new income-generating real estate fund, ASAS, of a grade-A commercial office building in Cairo, Egypt. The fund focuses on long-term, income-generating assets in the real estate market based on the specific requirements of each real estate sector within each country in the MENA region. "The investment rationale is supported by an undersupply of premium office space in Cairo and by attractive economics," Faisal Khan, Principal, Abraaj Capital, said.