Palm Hills Developments (PHD) and Taaleem Management Services, a subsidiary of CI Capital Holding for Financial Investments, have signed a deal to establish an educational company for developing a university campus in Badya, PHD’s flagship project in west Cairo, Invest-Gate reports.

Under the shareholder agreement, the joint venture will develop a university in Badya to include several faculties, yet still subject to regulatory approvals. The new campus is set to serve up to 9,000 students, coming with an investment cost of EGP 1.6-1.9 bn, to be financed by equity and debt, according to the company’s recent press release.

“The first faculty will be offering life sciences in collaboration with the Medical University of Vienna International (MUVI). The faculty is expected to commence enrollments during 2022,” read the statement.

“The partnership is in active dialogue with a number of international universities and faculties to establish branches in Badya,” it continued.

Back in June, PHD and Taaleem Management Services had joined forces to build the higher education campus in Badya, which will spread over 100,000 square meters, featuring an Egyptian private university that will include life sciences faculties, amongst others, according to a previous statement.