Cairo Egypt for Education (CEE), a consortium between CIRA and Elsewedy Capital Holding, has secured a 58-acre site in New Damietta through the New Urban Communities Authority, to establish a university providing more than 16 faculties catering to 25,000 students from across the region.
Cairo for Investment and Real Estate Development (CIRA) provides private education services in Egypt and owns and operates 24 schools, as well as Badr University in Cairo. Elsewedy Capital Holding is a privately owned investment company.
The total investment of the project is expected to be north of 2.5 billion Egyptian pounds (£116.4 million), with the first phase of the university planned to be inaugurated in September 2023.
The strategic partnership between CIRA and Elsewedy Capital Holding is planned to become the largest platform for private education in Egypt, including in the K12 sector.
Next month, CEE will launch two fully-owned schools in the west of Cairo: Saxony International School (SIS) and British Columbia Canadian International School (BCCIS), with plans to expand SIS and BCCIS and Regent British School to other locations in Egypt.
Mohamed El Kalla, chief executive of CIRA, said: “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. We are thrilled to be working closely with Elsewedy Capital Holding as both sides share a common vision and very strong working dynamics to achieve a lot for the development of education in the country, and we are eager to continue growing together through this mutual partnership.”
Haytham Sabry, group chief executive of Elsewedy Capital Holding, added: “We are very excited about the partnership with CIRA in creating a platform that will truly add quality education to the Egyptian market. 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. In achieving this, we elected to partner with a leader in higher and K12 education, with whom our vision at Elsewedy Capital is aligned with regards to providing quality and affordable education.”
Date published: 19 August 2021