Egypt’s Cairo for Investment and Real Estate Development (CIRA) has announced acquiring an 81-acre land plot in Nasser City, west Assiut, for the establishment of an international private university in the area, Invest-Gate reports.

The New Urban Communities Authority (NUCA) has approved allocating the land area to CIRA during a meeting with the authority’s board of directors on January 5, whereby CIRA endeavors to make the educational project represent a leap in the quality of projects present in Assiut Governorate, the company said in a bourse filing on January 6.

According to the filing, the property developer is committed to fulfilling all educational, building, and timing requirements for implementing the university project in compliance with international standards.

CIRA previously stated that it was planning to carry out various education investments in the North African nation.

Last November, the firm has also announced obtaining cabinet approval to establish an educational complex in New Alamein city.

Stretching across 14,334.69 square meters of land, the project is set to be implemented over the next five years, the developer said in a previous bourse filing, noting that it will fund the educational complex project via its self-financing resources, along with the possibility of securing some loans.