By: Islam Fadl

Cairo – Mubasher: Cairo For Investment and Real Estate Development aims to pay the full value of the land obtained from the New Urban Communities Authority (NUCA) in Nasser City in west Assiut in October, the company’s managing director Mohamed El Kalla said.

The company has already paid EGP 43 million out of the total value of EGP 258 million, while the remaining amount of EGP 215 million will be paid next month, El Kalla revealed during a press conference on Monday.

Previously, the Egyptian firm obtained an 81-feddan land from NUCA to set up a private university in west Assiut.

Earlier on Monday, the EGX-listed firm signed a deal worth EGP 500 million with the European Bank for Reconstruction and Development (EBRD) to finance the establishment of the eco-friendly university.