The Clap
Cairo for Investment and Real Estate Development (CIRA) is negotiating with the National Bank of Egypt to secure an EGP 800 million loan to finance its new technological university.
CIRA’s New Project
The university will be established in New Cairo in partnership with Al Ahly Capital and will cost around EGP 2.1 billion, 50% of which will be from the founders’ resources, and the rest funded from bank loans.
It is expected that the new university will offer 4 different majors in its first year, with investments reaching EGP 1.4 billion for the first phase.
The Next Step
The company is close to issuing securitization bonds worth EGP 800 million in partnership with the Financial Group for Securitization.
Sources added that CIRA submitted a request to obtain a republican decision to establish the university to begin the construction process.
CIRA to borrow funds to finance new university 📒
