CI Capital's Taaleem inks deal to establish university in Badya

Under the deal, the joint venture will develop a university in Badya which is expected to serve up to 9,000 students

  

Cairo – Taaleem Management Services Company, a minority-owned investment of CI Capital Holding for Financial Investments, signed a shareholder agreement with Palm Hills Developments (PHD) to build a university in PHD’s flagship project Badya, situated in West Cairo.

Under the deal, the joint venture (JV) will develop a university in Badya which is expected to serve up to 9,000 students, according to a bourse disclosure on Tuesday.

The investment cost of the project is estimated to be between EGP 1.6 billion and EGP 1.9 billion, to be financed by equity and debt.

PHD will hold an economic interest of 40% in the JV, while Taaleem will own the remaining 60%.

The university is expected to include a life sciences faculty in cooperation with Medical University of Vienna International (MUVI).

In July, CI Capital’s shareholders authorised Taaleem Management Services Company to set up a JV with PHD to establish a higher education campus.

Source: Mubasher

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