Cairo for Investment and Real Estate (CIRA) [CIRA.CA] announced that it had been awarded a 14.3k sqm land plot in New Alamein City by the New Urban Communities Authority (NUCA) to establish a schools complex. The price of the land will be decided-upon by a specialised committee, but will be subject to a 25% discount, according to the Supreme Investment Council’s decision. The project is expected to be completed within five years starting from the signing date, with CIRA to present the feasibility study for the project within two months.
 
Cairo Investment & Real Estate Development (CIRA): EGP6.70 as of 04 Nov 2018, Rating: Buy, TP: EGP9.20/share, MCap: USD205mn, CIRA EY/CIRA.CA