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CIRA acquires 51% of Innovvette for Education

CIRA acquires 51% of Innovvette for Education
The company expects pumping EGP 50 million investments in this sector

Cairo – Mubasher: The board of directors of Cairo for Investment and Real Estate Development (CIRA) approved a decision to acquire a 51% stake in Innovvette for Education.

The partnership covers the establishment and management of 25 child care centres over the next five year, CIRA said in a bourse disclosure on Sunday.

The company expects pumping EGP 50 million investments in this sector in the upcoming period.

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.