El Mostakbal for Urban Development has signed a contract on December 24 with Egypt’s Advanced Educational Services to develop an educational project inside Mostakbal City in east Cairo, Invest-Gate reports.

Chairman and Managing Director of El Mostakbal for Urban Development Essam Nassef pointed out that the new project will be developed within five years, highlighting that it marks the company’s third educational project in Mostakbal City, after El Rabwa for Integrated Educational Services and the international university in Bloomfields compound, which is being developed by Tatweer Misr.

However, he did not reveal any further details concerning the project’s cost nor investments.

The chairman noted that his company is keen on dealing with real estate developers operating in all fields, including residential, educational, health, commercial, administrative, and entertainment. Such developers, according to Nassef, have all the capabilities, resources, and financial solvency to achieve his firm’s vision and development plan.

Meanwhile, he stressed that the El Mostakbal for Urban Development is exerting abundant efforts in providing the requirements as well as full support to overcome all obstacles that real estate developers might encounter during the development of the new city to welcome its first residents in 2020 as scheduled.

Mostakbal City is being constructed over an area of 45 mn square meters and is expected to set an example of a complete urban community built with the highest environmental standards, Nassef earlier revealed.