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CIRA in loan talks with syndicate of international banks

CIRA in loan talks with syndicate of international banks

ArabFinance: Cairo for Investment and Real Estate Development (CIRA) is in talks with a syndicate of international banks to obtain financing for its planned applied technologies university, CEO Mohamed El Kalla told Hapi Journal.

The company is negotiating with three international banks for a credit facility that would cover 40-50% of the EGP 2 billion project.

The university is expected to be opened in the 2022/2023 academic year.

On June 16th, CIRA signed a management consulting agreement with Saxony International (SIS) to establish the first applied technologies university in Egypt.

 The agreement was signed in witness of the representatives of Deutsche-Arabische Industrie-Und Handelskamme (AHK), the German Chamber of Commerce and Al Ahly Capital Holdings (ACH), the investment arm of the National Bank of Egypt (NBE).

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

 

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