{"id":558595,"date":"2021-08-18T04:11:01","date_gmt":"2021-08-18T04:11:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/new-jv-will-pour-bns-into-education\/"},"modified":"2021-08-18T04:11:01","modified_gmt":"2021-08-18T04:11:01","slug":"new-jv-will-pour-bns-into-education","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/new-jv-will-pour-bns-into-education\/","title":{"rendered":"New JV will pour bns into education"},"content":{"rendered":"

<\/a> Big plans from what could be Egypt\u2019s biggest education consortium:<\/strong> Private sector education outfit CIRA and privately owned investment company Elsewedy Capital Holding will build and run an EGP 2.5 bn private university in New Damietta through their joint venture Cairo Egypt for Education (CEE), according to a press release (pdf)<\/a>. The New Urban Communities Authority has allocated the JV a 58-feddan plot of land in New Damietta on which to build the facility.<\/p>\n

CEE has big plans: <\/strong>CIRA and Elsewedy Capital Holding have said they want to, \u201ccreate the largest platform created around private education in the country.\u201d The two sides also plan to partner on other education projects, including in K-12 education.<\/p>\n

The JV will open two new K-12 schools next month: <\/strong>CEE intends to roll out two \u201cfully-owned\u201d schools in West Cairo starting next month: Saxony International School<\/a> (SIS) and British Columbia Canadian International School (BCCIS, in which CIRA owns a controlling stake<\/a>. They will also open new branches of Regent School<\/a> across new demographics, with \u201cother educational projects in the pipeline.\u201d<\/p>\n

The yet-unnamed university is set to open its doors for students in the 2023-2024 <\/strong>academic year<\/strong>, when phase one of the project will be complete, the statement said. In total, the university will include 16 faculties and is poised to serve 25k students locally and regionally. \u201cWe believe that Egypt is more than Cairo and Alexandria, that\u2019s why our focus will be directed to the underserved governorates that are in need of quality private sector education,\u201d said Elsewedy Capital Holding CEO Haytham Sabry.<\/p>\n

Also in CIRA\u2019s pipeline:<\/strong> EGX-listed CIRA<\/a> will open Egypt\u2019s first applied tech university by the start of the 2022-2023 academic year, under an agreement signed in June<\/a> with Saxony International School<\/a> (SIS), a German private-sector education provider. The institute will launch at CIRA\u2019s Badr University<\/a>, before being rolled out to other locations around the country. The education outfit is also planning to invest up to EGP 500 mn to set up four language schools in Qena, New Assiut, New Rashid<\/a> and El Alamein by 2022, CEO Mohamed El Kalla previously said<\/a>.<\/p>\n

What\u2019s Elsewedy Capital Holding? <\/strong>The privately held company, described on its LinkedIn profile<\/a> as the \u201cfamily office\u201d of Elsewedy Electric chief Ahmed Elsewedy, invests in real estate (Mangroovy), higher education (the Knowledge Hub in the new administrative capital), and non-bank financial services (Mada Ins, Easylease).<\/p>\n","protected":false},"excerpt":{"rendered":"

Big plans from what could be Egypt\u2019s biggest education consortium: Private sector education outfit CIRA and privately owned investment company Elsewedy Capital Holding will build and run an EGP 2.5 bn private university in New Damietta through their joint venture Cairo Egypt for Education (CEE), according to a press release (pdf). The New Urban Communities […]<\/p>\n","protected":false},"author":1,"featured_media":558596,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7228],"tags":[402,73,72,879],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education","tag-cira-education","tag-education","tag-enterpriseam","tag-new-urban-communities-authority","wpautop","entry"],"acf":{"mongo_id":"70e4da61-f321-4186-a485-64aff2143837","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/196.jpg","photo_position":"above","related_issue":[558591],"teaser":"","voice_url":""},"yoast_head":"\nNew JV will pour bns into education - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/new-jv-will-pour-bns-into-education\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New JV will pour bns into education\" \/>\n<meta property=\"og:description\" content=\"Big plans from what could be Egypt\u2019s biggest education consortium: Private sector education outfit CIRA and privately owned investment company Elsewedy Capital Holding will build and run an EGP 2.5 bn private university in New Damietta through their joint venture Cairo Egypt for Education (CEE), according to a press release (pdf). 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The statement doesn\u2019t provide further information and a company spokesperson was not immediately available for comment.What we know about the CIRA\u2019s\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/329.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577695,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/01\/cira-education-net-income-revenues-rise-in-fy-2021-22\/","url_meta":{"origin":558595,"position":2},"title":"CIRA Education net income, revenues rise in FY 2021\/22","author":"enterpriseam admin","date":"1 December 2022","format":false,"excerpt":"EGX-listed education outfit CIRA Education reported EGP 389.6 mn in adjusted net income in FY 2021\/2022, up 16% y-o-y, according to the company\u2019s earnings release (pdf). CIRA Education\u2019s fiscal year runs from September-August. 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