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CIRA, Innovvette for Education to open 25 nurseries by 2025

CIRA, Innovvette for Education to open 25 nurseries by 2025

ArabFinance: Cairo for Investment and Real Estate Development (CIRA) plans to open 25 nurseries by 2025, in collaboration with Innovvette for Education, with total investments of EGP 46 million, Al Mal News cited Mohamed El Kalla, CEO of CIRA.

El Kalla added that the company intends to open two new nurseries in Cairo and Faiyum by the end of the third quarter with total investments of EGP 4 million.

In addition, the listed company will invest EGP 700 million in the running year in three international schools and the first phase of Badr University in Cairo (BUC) in Asyut, to be operated in September.

In January, CIRA’s board of directors approved the acquisition of a 51% controlling stake in Innovvette for Education.

The listed company posted a consolidated profit attributed to the shareholders worth EGP 112.27 million during the first quarter that ended November 30th 2020, 12% higher when compared to EGP 100.25 in the same period of the prior year.

CIRA is engaged in the investment in diversified sectors, including education, construction and real estate, health care, information technology, and support services.

 

 

 

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