Cairo – Mubasher: Cairo Egypt for Education (CEE), a consortium comprised of Cairo for Investment and Real Estate Development (CIRA) and Elsewedy Capital Holding, obtained a 58-acre land plot in New Damietta from the New Urban Communities Authority (NUCA) to establish a new university in the Delta region.
With an expected investment cost of EGP 2.5 billion, the new university will include 16 faculties, serving more than 25,000 students, CIRA said in a bourse disclosure on Wednesday.
Phase one is scheduled to be inaugurated in September 2023.
As the two sides plan to build "the largest platform created around private education in the country", they will also partner on other education projects, including in the K-12 sector.
CEE plans to launch two fully-owned schools in West Cairo starting September, namely Saxony International School (SIS) and British Columbia Canadian International School (BCCIS). It will also expand Regent School across new locations. There are also “other educational projects in the pipeline."
This university comes as CIRA’s fourth planned university and Elsewedy Capital’s second.
Mohamed El-Kalla, CEO of CIRA, commented, “We are consistently striving to enrich our legacy in providing affordable high-quality education in the different Egyptian governorates; entering the Delta region is considered a crucial step due to the massive demand for the quality of service provided by the two parties in higher education."
Haytham Sabry, Group CEO of Elsewedy Capital Holding, said, "We believe that Egypt is more than Cairo and Alexandria, that’s why our focus will be directed to the underserved governorates that are in need of quality private sector education."
