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Tatweer Misr launches EGP 10bn educational area in Mostakbal City

Tatweer Misr launches EGP 10bn educational area in Mostakbal City
Tatweer Misr's CEO, Ahmed Shalaby

By: Abdullah Bedeir

Cairo – Mubasher: Tatweer Misr aims to establish an educational area in its integrated urban community in Mostakbal City over an area of 90 feddans with an investment of EGP 10 billion.

Upon completion in 10 years, the area will include two to three universities, four to six international schools, and an entrepreneurship and innovation centre, the company’s CEO, Ahmed Shalaby, said in a press conference.

The company will invest about EGP 3.5 billion in the first phase of the project, which will extend over 36 feddans, and its completion is scheduled in 2026 and 2027.

The first phase will include a branch of New Jersey Institute of Technology (NJIT), which will be built with an investment of EGP 2 billion.

Spanning over 16 feddans with a building area of about 40,000 square metres (sqm), the institute is expected to accommodate about 3,300 students.

The first phase also includes a branch of King's College London, which will be built with an investment of EGP 800 million. Extending over 14 feddans with a building area of around 28,000 sqm, the school is planned to accommodate about 3,000 students.

The company will also build a branch of Narmer American College over an area of 16 feddans with an investment of EGP 400 million. With a building area of nearly 21,000 sqm, the school will accommodate 1,800 students.

Tatweer Misr signed a strategic partnership agreement with the Commercial International Bank-Egypt (CIB) and Colliers International to promote the educational area to investors and investment funds in the education and entrepreneurship sectors.

In 2018, Tatweer Misr launched an integrated urban community in Mostakbal City in New Cairo with an investment of EGP 28 billion. The 415-feddan community includes 325 feddans of residential, administrative, commercial, and entertainment areas and a 90-feddan educational area.