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CIRA reveals impact of cancelling cap on foreign ownership of schools

CIRA reveals impact of cancelling cap on foreign ownership of schools
The decision will help drive new investments into the education sector

Cairo – Mubasher: Cairo for Investment and Real Estate Development (CIRA) said that the Ministry of Education’s decision to cancel a 20% cap on foreign ownership of international schools in the country will have a positive impact on the company.

Under the decision, the company will be able to launch new schools, which will help drive new investments into the sector and improve the quality of education in the country, according to a bourse disclosure on Thursday.

During the three-month period ended 30 November 2020, CIRA reported net profits of EGP 118.6 million, up from EGP 105.86 million in the prior-year period.