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CIRA, Elsewedy Capital to establish EGP 2.5B university in New Damietta

CIRA, Elsewedy Capital to establish EGP 2.5B university in New Damietta

ArabFinance: A consortium comprised Cairo for Investment and Real Estate Development (CIRA) and Elsewedy Capital Holding has succeeded in securing a 58-acre land plot in New Damietta through the New Urban Communities Authority (NUCA) for the establishment of a state-of-the-art university, according to a press release.

The university is expected to be built with around EGP 2.5 billion in total investment, the release said.

Moreover, phase 1 of the anticipated university is scheduled to be inaugurated in September 2023.

The new project will feature over 16 faculties to serve more than 25,000 students, the release added.

The strategic partnership between CIRA and Elsewedy Capital Holding is set to become Egypt’s biggest platform in the private education sector.

The consortium also plans to invest in key education projects, including the K to 12 sector, the release highlighted.

It is worth noting that CIRA plans to introduce two fully-owned schools to the market in Western Cairo starting September 2021, namely Saxony International School (SIS) and British Columbia Canadian International School (BCCIS).

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