As part of its role to add value to the Egyptian real estate sector, the second-largest real estate developer in Egypt, Tatweer Misr announced the signing of three final contracts worth EGP 3.2 Bn with three educational entities. The agreements included an international branch campus of New Jersey Institute of technology (NJIT), two schools for the King’s College, and a school for Narmer American College all of which are located at the company’s educational zone at Bloomfields. Kerten Hospitality is Tatweer Misr’s hospitality partner in 3 of their flagship developments in Egypt: Fouka Bay, Il Monte Galala as well as Bloomfields – a mixed-use project located in Mostakbal City and spans over an area 415 acres.
The new partnerships aims to bring value to the investment turf in the country, to the real estate sector’s non-residential component as well as to Egypt’s educational sector.
The partnerships with CIB Egypt and Colliers International will create due diligence on the educational zone and attract more educational entities and investment funds with interest in education to launch at the educational zone. This comes in line with Tatweer Misr’s ambitious plan to support the Egyptian government to enhance the educational ecosystem by 2030 and attract investors in diversified sectors.
Bloomfields is designed to become the first college in the Middle East. Bloomfields includes a residential, commercial and administrative area which consists of 10,700 units, with a total investment of EGP 28 billion and spans over 325 acres. The remaining 90 acres are allocated to become an educational zone with total investments of EGP 10 Bn over 10 years. The educational zone shall host GEN@Bloomfields, the first entrepreneurial hub in Egypt, the Middle East and North Africa. The signed contracts worth EGP 3.2 Bn are the first phase of investments in the educational zone which is scheduled to start its first operations by the end of 2023 along with some residential units.
Ahmed Shalaby, President and CEO of Tatweer Misr, said “We are proud to enhance the educational ecosystem in Egypt through the educational zone at Bloomfields. Education and entrepreneurship have always been integral to our strategy, and we are looking forward to raising the leaders of the future who will push Egypt to development and prosperity”. He added, “the educational zone is only catering to residents of Bloomfields, it shall host international branch universities and schools that would develop the educational system in Egypt, the Middle East and North Africa.”
Read more on the strategic partnerships here: https://www.tatweermisr.com/learn-more/28