NUCA grants CIRA 81 feddans in west Assiut to build private university
Cairo for Investment and Real Estate (CIRA) [CIRA.CA] was awarded an 81-feddan land plot in west Assiut by the New Urban Communities Authority (NUCA) to establish a private university, according to local newspapers. The project is expected to be completed within 10 years, with conditions stipulating that CIRA carries out the project in partnership with an international university. Up to 15% of the land value will be paid initially, with the rest over three years. No further details were provided.
Cairo Investment & Real Estate Development (CIRA): EGP8.98 as of 3 Jan. 2019, Rating: Buy, TP: EGP9.20/share, MCap: USD275mn, CIRA EY/CIRA.CA
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