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Wednesday, 25 January 2023

Badya GEMS school set for 2024 open

Palm Hill’s Badya compound is getting a GEMS school from 2024: The Egypt Education Platform (EEP) will open a GEMS-branded British school in Palm Hills Developments’ (PHD) Badya development in West Cairo, the real estate developer said in a statement (pdf) yesterday. The GEMS British International School of Badya will be the first international school in the compound and is slated to open in September 2024. EEP is an education management firm that counts EFG Hermes and the Sovereign Fund of Egypt among its anchor investors.

The players: GEMS Education is a regional education provider with a network of more than 60 schools across MENA. EEP is the rebranded GEMS Education Egypt; it has said it has 18 schools and nurseries with a combined capacity of 21k students “at various stages of development.”

Badya is growing: The company is ramping up construction spending with a focus on Badya after reporting record-high net income in 9M 2022. New sales in Badya more than doubled y-o-y during the nine-month period, accounting for around a quarter of the company’s total new sales, according to its 3Q 2022 earnings release (pdf). PHD bills Badya as the first sustainable city in Egypt and the first smart city “in the heart of New October.”

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