17 February, 2020

Orascom Development to develop int’l school with $32mln investments

The new school is set to begin operation in the third quarter of 2022

Cairo – Mubasher: Orascom Development Egypt signed an agreement to develop an international school in its O West project in 6th of October City.

With an investment cost of EGP 500 million, the new school is planned to hold 1,500 students, employ 400 employees, and feature 70 classrooms, the company said in a statement on Sunday.

The new school, which will be managed by Kent College, is set to begin operation in the third quarter of 2022, one year prior to the delivery of the first residential unit at O West project.

It is noteworthy that during the first nine months of 2019, Orascom Development Egypt reported net profits of EGP 501.2 million, up from EGP 274.06 million in the same period a year earlier, including minority shareholders’ rights.

Source: Mubasher

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