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CIRA to get EGP 260M loan for future projects

CIRA to get EGP 260M loan for future projects

ArabFinanceCairo for Investment and Real Estate Development (CIRA) announced that its board of directors has approved to obtain a loan worth EGP 260 million from one of the Egyptian banks, according to a statement filed to the Egyptian Exchange (EGX).

The loan will be used to finance the company’s new projects over the coming period, CIRA highlighted.

Earlier today, CIRA said that its ordinary general meeting (OGM) has approved the board’s proposal to distribute cash dividends worth EGP 100 million, equivalent to EGP 0.171588298 per share for the year ended August 31st, 2021.

Earlier this month, CIRA announced its partnership with Orcas to develop an online distance learning platform that offers first-of-its-kind blended learning programmes.

CIRA is an Egypt-based company, operating in the investment field across diversified sectors, including education, construction and real estate, health care, information technology, and support services.

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