Cairo – Mubasher: Taaleem Management Services revealed the latest updates of its future investment plans.
The higher education management company responded to the Egyptian Exchange's (EGX) inquiry on the published interview with the company's CEO.
Taaleem clarified that its EGP 430 million future plan includes investments in building the university hospital at Nahda University in Beni Suef (NUB) as per the instructions of the Supreme Council of Universities.
The investments also include paying the value of the land plot on which the hospital is being built, in addition to establishing three new faculties.
The company is still in the process of finalising contracts with executive contractors of the project. The details will be disclosed upon signing the contracts.
Moreover, the company also said that the estimated investment for developing Nahda University amounts to EGP 600 million, including EGP 80 million for improving the student experience.
In the nine-month period ended 31 May, Taaleem Management Services posted consolidated net profits of EGP 228.39 million, up from EGP 193.04 million in the year-ago period, including minority shareholders' rights.