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Monday, 29 June 2020

Palm Hills, CI Capital’s Taaleem ink MoU to set up health sciences university in Badya compound

PHD, CI Capital’s Taaleem ink MoU to set up life sciences university in Badya compound: Palm Hills Development (PHD) has signed a preliminary agreement with CI Capital subsidiary Taaleem to jointly set up a new private university in its West Cairo Badya project, according to a press release (pdf). The two companies would set up a joint venture to establish the university, which would span 100k sqm of PHD’s development and be home to a health sciences college in partnership with the Medical University of Vienna, as well as branches of at least one other international university. Taaleem would be in charge of managing and operating the project, which is still subject to corporate and regulatory approvals, the statement says.

Background: The Badya compound is a 3k-feddan West Cairo project under development by PHD in partnership with the New Urban Communities Authority. Taaleem is a subsidiary of EGX-listed CI Capital (which holds a 16.4% stake in Taaleem and has “influence over the decision[s] of its board of directors”) and owns the Nahda University in Beni Suef, the largest private university in Upper Egypt with 5.6k enrolled students.

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