Cairo – Mubasher: Cairo For Investment and Real Estate Development announced signing a finance facility agreement with Qatar National Bank Al Ahli (QNB Al Ahli) to receive EGP 100 million loan as a first tranche.

The finance will be used to resume the construction of Badr University, according to a statement to the Egyptian Exchange (EGX) on Sunday.

In April, the company announced it is seeking to get a loan facility worth around EGP 250 million to EGP 300 million to complete the construction of Badr University.

During the six-month period ended 28 February, Cairo Investment logged a net profit of EGP 148.43 million, compared to EGP 113.95 million in the same period a year earlier.