INVESTMENT WATCH- CIRA plans to invest EGP 110 mn in New Mansoura, Assiut projects: Leading private sector education provider Cairo for Real Estate and Investment (CIRA) will invest EGP 110 mn this fiscal year in two projects in New Mansoura and Assiut, CEO Mohamed El Kalla told Al Mal. The New Urban Communities Authority had agreed to allocate CIRA 81 feddans in west Assiut to establish a private university in partnership with an international university. CIRA had also closed an EGP-denominated EUR 25 mn agreement with the European Bank for Reconstruction and Development (EBRD) to finance the university. In New Mansoura, CIRA has begun construction of an integrated school at a cost of EGP 60 mn financed through the company's own resources, the proceeds of its listing on the EGX, and some of the real estate assets it holds.

El Sisi ratifies CIRA’s new Badr University faculties: President Abdel Fattah El Sisi ratified a decision to allow Cairo for Investment and Real Estate Development (CIRA) to add seven new colleges to their flagship higher Badr University, according to a decree published in the Official Gazette yesterday. The private sector education outfit completed the construction of the new faculties and was waiting for a presidential decree to begin operations.