Palm Hills Developments (PHD) and Taaleem Management Services, a subsidiary of CI Capital Holding for Financial Investments, have signed a Memorandum of Understanding (MoU) to build a higher education campus in Badya, PHD’s flagship project in west Cairo, Invest-Gate reports.

The campus will spread over 100,000 square meters, featuring an Egyptian private university that will include life sciences faculties, in cooperation with the Medical University of Vienna International (MUVI), according to PHD press release on June 28.

It will also encompass one or more international branch campuses of first-class universities. However, construction will commence upon obtaining the regulatory and corporate approvals, the statement noted.

Yasseen Mansour, PHD’s chairman and CEO, indicated, “The project will not only cement Badya as the center of innovation and technology but better serves our residents and elevates the standards of higher education in Egypt,” noting that Badya is on the verge to fully function as a truly integrated and creative city.

Meanwhile, CEO of Taaleem Mohamed El Rashidi highlighted that this joint venture, on one hand, comes in line with the company’s diversification strategy implemented since the recent 60% acquisition by CI Capital, and on the other, represents Taaleem next wave of growth, stressing the significance of this partnership to support the achievement of Taaleem’s ambitious growth plans.