Tatweer Misr announces signing three contracts with investment value of EGP 3.2 bn, Invest-Gate reports.

This is for the inauguration of a branch of the New Jersey Institute of Technology (NJIT) and the establishment of Kings College and Narmer American College schools in the educational district to be established in the Bloomfields project in Mostakbal City in New Cairo.

The company also announces the signing of a strategic partnership with the Commercial International Bank (CIB) and Colliers International to prepare a feasibility study for the educational district and attract investors and funds in the field of education and entrepreneurship.

The Bloomfields project is a mixed-use project that has been designed to become the first College Town in the Middle East. The project is built on an area of ​​415 acres divided between residential, commercial, administrative and entertainment parts that include 10,700 units on an area of ​​325 acres with investments of EGP 28 bn. Another part is dedicated to create an educational zone on an area of ​​90 acres with investments of EGP 10 bn, under the management of the Global Entrepreneurial Network (GEN).

The final contracts signed are part of the first phase that will be completed by 2023 with a total investment of EGP 3.2 bn.

Mrs. Nicole Champaign, chargé d’affairs to the US ambassador to Cairo, says that this educational initiative will give Egyptian students the opportunity to obtain an American education. This initiative is based on US investments in promoting education in Egypt, including building more than 2,000 schools, training more than 100,000 teachers, and providing more than $ 350 m in scholarships and academic exchanges.

Dr. Joel Bloom, president of New Jersey University of Technology, states that the NJIT signed contracts to establish its first campus in Egypt, because of concerted efforts by the university.

King’s College is set to establish two schools in the educational district in Bloomfields – the first two Kings College schools in Egypt – with investments of EGP 800 mn and a student capacity of nearly 3000 students. Narmer College American Schools is set to establish a school with the same project, with investments of EGP 400 mn and a capacity of 1800 students.

Amr Al-Ganaini, CEO of the Institutional Banking at CIB, expresses his happiness to play the role of the financial advisor, jointly with Colliers International, for the establishment of an educational zone on an area of ​​90 acres that includes international schools and universities. The cooperation protocol aims to formulate an optimal financial structure to finance the project, increase the returns of shareholders in the project, identify potential investors, in addition to appointing independent external consultants.