Cairo – Mubasher: A consortium of an Egyptian businessman, a Hungarian sovereign wealth fund, American and European investment funds, and an Emirati investor is planning to establish a Hungarian university in the New administrative Capital with investments worth around $50 million.

The alliance aims at obtaining a 50-acre land in the New Administrative Capital to build the university on, Almal News reported, citing sources familiar with the matter.

In October 2017, chairman of the New Administrative Capital Ahmed Zaki Abdeen said that it has been approved to build six international universities and 16 international schools in the new capital.