Cairo – Mubasher: Cairo For Investment and Real Estate Development said that the Egyptian government’s decision that restricts foreign ownership of private schools to 20% will be applied to future projects only.

The company is currently arranging meetings with major international school management firms to explore the possible ways to implement this decision, according to a statement to the Egyptian Exchange (EGX) on Thursday.

Previously, Cairo Investment announced that it is establishing seven new faculties to be added to Badr University (BU) and five schools in different governorates.

It is noteworthy that during the nine-month period ended 31 May 2019, Cairo Investment reported a net profit of EGP 231.56 million, compared to EGP 165.39 million in the prior-year period.