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Sunday, 4 March 2018

Saudi-Egyptian consortium to invest EGP 600 mn in new int’l schools

INVESTMENT WATCH- Saudi-Egyptian consortium to invest EGP 600 mn in new int’l schools: A consortium of Saudi and Egyptian investors is planning to construct two new international schools in Egypt worth a combined EGP 600 mn through its newly-established company, Egypt Learning Group (ELG), founding partner Ayman Badr tells Al Mal. ELG has reached an agreement with an unidentified real estate developer to establish the schools in two of the developer’s compounds in Six October City and the Fifth Settlement, according to Badr. ELG also plans to list on the EGX and establish two more schools by 2023, Badr said. He did not disclose the identities of the company’s shareholders.

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