Cairo Investment and Real Estate Development’s (CIRA) planned private university in west Assiut is expected to cost a total of EGP 2.45 bn, according to Al Mal. The first EGP 500-800 mn phase of the university will be financed through both equity and debt. The New Urban Communities Authority (NUCA) had recently granted CIRA an 81 feddan plot in west Assiut to develop its private university. Construction of the project is expected to take 10 year and land is conditional on CIRA partnering up with an international university.

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