Egypt-based property developer Tatweer Misr has signed a memorandum of understanding (MoU) with New Jersey Institute of Technology (NJIT) and Ocean County College (OCC) to establish Egypt’s first American International Branch Campus (IBC) at Mostakbal City’s Bloomfields, east Cairo, Invest-Gate reports.

The announcement came during a press roundtable held at The Nile Ritz-Carlton, Cairo on March 19, where Ahmed Shalaby, the company’s CEO and managing director, revealed that this signing comes as part of a lineup of agreements with internationally acclaimed universities and schools.

Spreading across 90 acres at Bloomfields, the IBC is expected to start hosting its educational services by 2022, while the campus is scheduled to be finalized by 2027, Shalaby stated during the press roundtable. He also noted that “both institutions’ main ethos is focused on employing innovative methods of learning.”

Shalaby pointed out that negotiations between the two parties took about 14 months to reach a final agreement.

Commenting on the deal, President of NJIT Joel Bloom said in a recent press statement, “Tatweer Misr is enabling NJIT, a highly-ranked global polytechnic university that has had significant success in educating diverse populations of college students with the knowledge and skills that are in great demand by engineering, science and technology-based industries.”

“This partnership marks a milestone to ensure a smooth transition for our students and will allow them to engage with people and places from all over the region. The opportunities are limitless,” he elaborated.

Meanwhile, during the press roundtable, Shalaby confirmed that Tatweer Misr’s contracted sales surged by 65% in 2018 compared to the previous year, backed by Bloomfields’ launching during the same year.

According to Shalaby, Egyptian expats and foreign investors represent 22% of those sales, with non-Egyptians amounting to 5% of the total sales.

He further revealed some details on the company’s undergoing projects across Egypt, namely Ain Sokhna’s IL Monte Galala and Fouka Bay in the North Coast, with investments worth EGP 2 bn and EGP 1 bn pumped into them in 2019, respectively.

IL Monte Galala is set to start delivering its units by early 2020, while Fouka Bay’s first phase units will be handed over in Summer 2019.