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Tatweer Misr announces the signing of contracts worth 3.2 billion pounds to inaugurate the first branch of "NJIT American University" in Egypt


Contracts worth 3.2 billion pounds for the inauguration of the first branch of "NJIT American University" in Egypt and the establishment of two "Kings College" schools and a "Narmer American College" school in the educational zone "Bloomfields" ... and a strategic partnership with "Commercial International Bank" "CIB" and "Colliers International" To attract investors in the field of education and entrepreneurship

 

As a continuation of its march in providing added value to the Egyptian market, Tatweer Misr - a leading company in the field of real estate investment - announced the signing of 3 contracts with an investment value of 3.2 billion Egyptian pounds for the inauguration of a branch of the New Jersey University of American Technology (NJIT) and the establishment of two Kings College and a Narmer American College school in the region. The educational sector to be established in the "Bloomfields" project in Mostakbal City in New Cairo. The company also announced 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 investment funds in the field of education and entrepreneurship. This comes within the framework of the keenness of Tatweer Company. Egypt is to support the state’s efforts to develop education in line with Egypt's Vision 2030, and in response to the government's directives to attract new foreign investments in various sectors.

 


This came during a press conference held in the presence of Mrs. Nicole Champaign, Chargé d'Affairs to the US Ambassador to Cairo, Mr. Edward Parsons, Acting British Ambassador in Cairo, Dr. Joel Bloom, President of New Jersey University of American Technology, Mr. Rick Johnson, President of Kings College, Mrs. Jehan. Al-Rashidi, the founding partner and managing director of Narmer American College Schools, Mr. Amr Al-Ganaini, Chief Executive Officer of the Institutional Sector, Commercial International Bank - CIB Egypt, Mr. Karim Helal, Regional Director of Colliers International, Dr. Ahmed Shalaby, CEO and Managing Director of Tatweer Egypt and a group of representatives of major institutions Public and private.

 

From Bloomfields

The Bloomfields project is a mixed-use project located in Mostakbal City in New Cairo, it 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 a residential, commercial, administrative and entertainment part that includes 10700 units on an area of ​​325 acres with investments of 28 billion pounds, And another part is dedicated to creating an educational zone on an area of ​​90 acres with investments of 10 billion pounds dedicated to establishing an educational zone, in addition to GEN @ Bloomfields under the management of the International Entrepreneurial Network (GEN), which is the first center for entrepreneurship and innovation in Egypt, the Middle East and North Africa. The final contracts signed today are part of the first phase, which will be completed by 2023, with a total investment of 3.2 billion Egyptian pounds. It is planned that the delivery of the residential parts and the first phase of the educational zone will be completed by the end of 2023.

 


Dr. Ahmed Shalaby, CEO and Managing Director of Tatweer Egypt, said: “I am proud that Tatweer Egypt plays a pivotal role in improving the educational climate in Egypt through the educational zone established in the Bloomfields project, as long as education and entrepreneurship are one of the most important pillars of Egypt's development strategy,” adding: "We look forward to participating in the graduation of a generation of future leaders of engineers, doctors and scientists who will contribute to achieving Egypt's aspirations for growth and prosperity."

 

Shalaby indicated that the goal of establishing an educational zone in the Bloomfields project is not only to serve the project's population, but to establish an educational beacon that includes branches of major universities and international schools for the development of education in Egypt, the Middle East and North Africa. Shalaby also thanked ICSB for its role. The main role played by the Board in the NJIT nomination for partnership with Tatweer Egypt.

 


Speaking about the fruitful partnerships between England and Egypt, especially in the education sector, Sir Geoffrey Adams said: “Kings College is a well-respected independent school in England, with more than 140 years of history. I am glad that it will soon open its first school in Egypt, Together with its partner Tatweer Egypt, educational ties between Britain and Egypt are flourishing at all levels, with strong support from the two governments; and it is good news that Kings College Cairo will soon provide high-quality British education to thousands of talented young Egyptians.

 

On her part, Mrs. Nicole Champaign, Chargé d'Affairs to the US ambassador to Cairo, said: “This educational initiative will give Egyptian students the opportunity to obtain an American education, enable them to compete for highly skilled jobs and help Egypt develop its knowledge-based economy. This initiative relies on four decades of The investment of the United States government in promoting education in Egypt, including building more than 2,000 schools, training more than 100,000 teachers, providing more than $ 350 million in scholarships and academic exchanges, and supporting university links.


About partnerships with educational agencies

The conference began with the signing of the final contract between the Egypt Development Company and New Jersey University of Technology to establish a branch of the university in the educational district in the "Bloomfields" project - which is the first American campus to open a branch in Egypt - with investments of 2 billion pounds and a student capacity of nearly 3000 thousand students, and this comes in The framework of "Egypt Development" keenness to support the government's priorities by establishing branches of foreign universities (IBC) in Egypt in order to benefit from the educational and research experiences of those universities in a way that contributes to making a qualitative leap in the higher education system.

 

The new branch of the New Jersey University of Technology enables the addition of new majors such as the College of Medical Information, Concrete Technology, and Building Management Technology, and these colleges are the first of their kind in Egypt.


Dr. Joel Blume, President of New Jersey University of Technology, commented that the New Jersey University of Technology signed contracts to establish its first campus in Egypt, as a result of concerted efforts by the university and the company to establish the first branch of an American university in Egypt, adding: "We are at the University of New Jersey. For technology, we believe that this partnership will achieve multiple benefits for both parties, worse for our home state of New Jersey in the United States, and certainly for Egyptian students, as we currently have many Egyptian students on our campuses in Newark and New Jersey in addition to successful Egyptian graduates from the university.

 

Dr. Ahmed Shalaby also signed a contract with Mr. Rick Johnson, President of King's College England, to establish two schools in the educational district in Bloomfields - the first two Kings College schools in Egypt - with investments of 800 million pounds and a student capacity of nearly 3000 students, and a contract with Mrs. Jehan Al-Rashidi, co-founder and member. The delegate to Narmer College American Schools, to establish a school with the same project, with investments of 400 million pounds, with capacity for 1800 students, within the framework of the state's directives to establish international schools in Egypt to provide high-quality educational service in accordance with international standards To prepare a generation of student supervisor for Egypt to achieve development goals.

Rick Johnson, President of Kings College, said: “Kings College is proud to launch its first school in Egypt in partnership with Tatweer Egypt in the Bloomfields project in Mostakbal City. The school will be located on an area of ​​approximately 60 thousand square meters and will include the latest facilities, and we look forward to its opening in 2023 to increase the level of Egyptian students. Distinguished education, "referring to the great history that Kings College enjoys and extends over a period of 600 years during which it has succeeded in teaching its graduates to respect traditions and develop their spirit of innovation, and many Nobel Prize winners and Olympic competition winners, major industrialists and former kings have graduated from it. We transfer the school experience in Egypt to prepare generations for the future of Egypt. "


Meanwhile, Jehan Al-Rashidi, Co-Founder and Managing Director of Narmer American College, affirmed: "A good education is the foundation for a brighter future, and the most valuable tool to make a real difference in yourself, your country and the world at large."

 

Strategic partnerships to attract foreign investment

 In the same context, Tatweer Misr announced the signing of a strategic partnership with the Commercial International Bank - Egypt (CIB) and Colliers International, to prepare a feasibility study for the educational zone and promote it among investors and investment funds working in the field of education and entrepreneurship by setting criteria for selecting the best investors based on the experiences of the two institutions. The broad field of investment banking, which is in line with Tatweer Misr's vision to become the largest educational region in Egypt, the Middle East and North Africa, and is in line with the state's trends to attract new foreign investments in various sectors.

 

Amr Al-Ganaini, CEO of the Institutional Sector at the Commercial International Bank of Egypt, expressed his happiness for signing a cooperation protocol with Tatweer Misr in order to play the role of financial advisor in partnership with Colliers International, a leading company in the field of professional services and investment management, for the project of the Educational Development Company, which is located in Future City. In New Cairo, which includes 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.

 

Al-Ganaini explained his appreciation for cooperation with Tatweer Egypt, as it is one of the leading companies in the field of real estate development, as this protocol is a continuation of the bank’s cooperation with the company over the past four years in the company's other projects. Al-Ganaini added that this project is in line with the country's ambitious plan in the field of developing education in Egypt and benefiting from international and local expertise in this field, which would also develop and develop new cities, as it always strives for the Commercial International Bank to be a supporter of leading companies in the field of development. The real estate sector and the educational sector, by providing financial advisory services, granting the necessary financing to these companies, and providing all available banking services to serve these activities.

 

On his part, Mr. Mansour Ahmed, Director of Healthcare, Education and Public-Private Partnership at Colliers International, said: “Colliers is proud to participate in the comprehensive development of the educational district with the pioneering Egypt Development Project“ Bloomfields ”in Mostakbal City, and we have provided consultations to bring in a number of major institutions. International educational institutions, namely, Kings College of Britain and Narmer American College, as well as many other educational institutions shortlisted locally and internationally, who were chosen on the basis of quality, experience and their commitment to providing high-quality education in Egypt.


Mr. Karim Helal, the Regional Director of Colliers in Egypt, confirmed that Colliers is looking forward to providing comprehensive solutions to Tatweer Egypt, whether by cooperating with the Commercial International Bank (CIB) to attract investments worth 3.2 billion pounds; To develop the educational zone in the Bloomfields project or to support Tatweer Egypt in selecting the best investors.

 

The new partnerships add value not only to the non-residential component of the real estate sector, but also to the education sector and investment climate in Egypt, which is expected to witness a boom over the next few years thanks to the efforts of private sector companies and the Egyptian government.

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