{"id":563160,"date":"2021-06-21T04:00:36","date_gmt":"2021-06-21T04:00:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/cira-in-loan-talks-for-new-tech-uni\/"},"modified":"2021-06-21T04:00:36","modified_gmt":"2021-06-21T04:00:36","slug":"cira-in-loan-talks-for-new-tech-uni","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/cira-in-loan-talks-for-new-tech-uni\/","title":{"rendered":"CIRA in loan talks for new tech uni"},"content":{"rendered":"

<\/a> Private sector education outfit CIRA is in talks with a syndicate of international <\/strong>banks to obtain financing for its planned applied tech university<\/strong>, CEO Mohamed El Kalla told Hapi Journal<\/a>. The company is negotiating with three banks for a credit facility that would cover 40-50% of the EGP 2 bn project, he said.<\/p>\n

About the uni:<\/strong> The tech university is expected to open its doors in the 2022-2023 academic year, under an agreement signed last week<\/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.<\/p>\n

Who\u2019s in the syndicate?<\/strong> El Kalla didn\u2019t disclose which international banks CIRA is in talks with. The company said last week that the National Bank of Egypt\u2019s investment arm, Al Ahly Capital, would finance part of the project.<\/p>\n

Also in the pipeline:<\/strong> CIRA is 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, El Kalla said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Private sector education outfit CIRA is in talks with a syndicate of international banks to obtain financing for its planned applied tech university, CEO Mohamed El Kalla told Hapi Journal. The company is negotiating with three banks for a credit facility that would cover 40-50% of the EGP 2 bn project, he said. About the […]<\/p>\n","protected":false},"author":1,"featured_media":563161,"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":[7274],"tags":[1935,402,88,73,72,248],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-al-ahly-capital-holding","tag-cira-education","tag-debt-watch","tag-education","tag-enterpriseam","tag-national-bank-of-egypt","wpautop","entry"],"acf":{"mongo_id":"ad7492c3-018d-4177-acd7-12141912af95","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/265.jpg","photo_position":"above","related_issue":[563150],"teaser":"","voice_url":""},"yoast_head":"\nCIRA in loan talks for new tech uni - 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\/06\/21\/cira-in-loan-talks-for-new-tech-uni\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIRA in loan talks for new tech uni\" \/>\n<meta property=\"og:description\" content=\"Private sector education outfit CIRA is in talks with a syndicate of international banks to obtain financing for its planned applied tech university, CEO Mohamed El Kalla told Hapi Journal. The company is negotiating with three banks for a credit facility that would cover 40-50% of the EGP 2 bn project, he said. 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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":542999,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/cira-reports-1q2021-2022-financials\/","url_meta":{"origin":563160,"position":1},"title":"CIRA reports 1Q2021-2022 financials","author":"enterpriseam admin","date":"30 January 2022","format":false,"excerpt":"CIRA net income down in 1Q2021-2022 on expansions, higher debt costs: Net earnings at private sector education outfit CIRA eased 12% to EGP 107.7 mn in the first quarter of their 2021-2022 fiscal year, which ended on November 30, according to the company\u2019s latest earnings release (pdf). CIRA attributed the\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":553639,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/31\/cira-is-now-officially-cira-education\/","url_meta":{"origin":563160,"position":2},"title":"CIRA is now officially CIRA Education","author":"enterpriseam admin","date":"31 October 2022","format":false,"excerpt":"Coffee With Mohamed El Kalla, CEO of CIRA Education: Egypt\u2019s largest listed private-sector education company, CIRA (Cairo for Investment and Real Estate Development) has officially rebranded itself as CIRA Education (watch, runtime: 01:40). But this is more than just a facelift. 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The company\u2019s expansion plans will see it invest EGP 600-700 mn in 2021,\u2026","rel":"","context":"In "Health + Education"","block_context":{"text":"Health + Education","link":"https:\/\/enterpriseam.com\/egypt\/category\/health-education\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=563160"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563160\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/563150"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/563161"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=563160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=563160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=563160"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=563160"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=563160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}