PROJECTS: Egypt's Al Ahly Sabbour to set up two schools in City of Odyssia development

Developer signs MoU with New Giza for School Management

  
Image used for illustrative purpose Labourers work during the construction of a budget hotel near Sukarno-Hatta airport in Jakarta April 27,2012.REUTERS/Supri

Image used for illustrative purpose Labourers work during the construction of a budget hotel near Sukarno-Hatta airport in Jakarta April 27,2012.REUTERS/Supri

REUTERS/Supri

Egyptian developer Al Ahly Sabbour has signed a memorandum of understanding with the New Giza for School Management to develop two international schools in its City of Odyssia development in Mostakbal City at a total investment of 650 million Egyptian pounds ($41 million).

Ahmed Sabbour, CEO of Al Ahly Sabbour said the schools, spread over on an area of 30,000 square metres, are expected to start operations in 2023.

"Through their brand LVNG, New Giza for School Management is projected to add a new tier of quality living to the City of Odyssia," he said.

LVNG's current campus in West Cairo includes Lycée Albert Camus, which follows a French curriculum and Evolution International School, which follows the Montessori system, the British IGCSE system and the International Baccalaureate Diploma Progamme.

Sabbour said the 29 billion pounds ($1.8 billion) City of Odyssia project is planned to be delivered in seven phases.

"Three phases, namely The Ridge, Alaire and Alaire Park, comprising of 2,500 residential units have been launched and would be delivered by 2022," he said.

The 528-acre project has been designed by Gensler.

Sabbour also added that the company would deliver the first phase of its 1,100-unit Green Square project in Mostakbal City by December 2020 and the second phase by June 2021.

(1 US Dollar = 15.72 Egyptian Pounds)

(Reporting by Marwa Abo Almajd; editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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