Egypt: CIRA Education eyes expansion in Saudi market
Arab Finance: Cairo for Investment and Real Estate Development (CIRA Education) is exploring opportunities to expand business in the Saudi market, according to a bourse disclosure.
The announcement followed acquisition transactions between the company's main shareholder, Social Impact Capital Ltd. (SIC), and the Saudi Egyptian Investment Company (SEIC).
CIRA Education also unveiled investments of EGP 1.4 billion in establishing Saxony Egypt University (SEU), scheduled to open on April 9th.
This is in addition to opening a university project in New Damietta, which was announced in Al Ahly CIRA for Educational Services' EGP 700 million expansion plans for two academic years.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
7 hours ago
- Zawya
Egypt: Finance Ministry refutes 174.4M-sqm-land sale claims
Arab Finance: Egypt's Ministry of Finance confirmed that the 174.4 million square meters of land allocated along the Red Sea will be developed, refuting claims that it will be sold, as per a statement. This is part of an initiative to facilitate the issuance of sovereign sukuk. The state will retain ownership of the land, of which a portion will be utilized to reduce government debt by entering partnerships and joint investment deals with government agencies and economic entities. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Fintech News ME
10 hours ago
- Fintech News ME
Stake Launches First Real Estate Development Fund in Saudi Arabia
Stake, a real estate investment platform based in Dubai and Riyadh, has launched its first private real estate development fund in Saudi Arabia. The fund is located in Riyadh's Al Malqa district, near major commercial and government zones including the King Abdullah Financial District and the Diplomatic Quarter. It is fully Shariah-compliant and open to both local and international investors, with a minimum investment of SAR 500. This development is part of Stake's broader regional expansion following its entry into the Saudi market in early 2024. The platform became the first regulated by Saudi Arabia's Capital Market Authority (CMA) to offer non-Saudi investors access to the Kingdom's real estate sector. Within five months of launching in the country, Stake introduced three private real estate funds, attracting over SAR 135 million in foreign direct investment from investors in more than 70 countries. Backed by entities including Tharwat for Wealth Management, Rasaf Investment, and Mawan Real Estate, the new Riyadh-based fund positions Stake as a key player in supporting Saudi Arabia's Vision 2030 agenda to diversify its economy and expand foreign participation in real estate. The fund launch comes as Stake also surpasses AED 1 billion in real estate transactions since its launch in 2021. The platform has facilitated over 250,000 individual investments across more than 420 properties, primarily in Dubai, with a user base of over one million individuals across 170 countries.
Zawya
11 hours ago
- Zawya
Egypt: Copper for Commercial Investment turns to losses in Q1 2025
Arab Finance: Copper for Commercial Investment and Real Estate Development shifted to net losses after tax valued at EGP 3.166 million in the first quarter (Q1) of 2025, as per the financial results. The reported net losses were against profits amounting to EGP 435,018 in Q1 2024. Loss per share hit EGP 0.006 in the first three months of 2025, compared to an earnings per share (EPS) of EGP 0.08 during the same period in 2024. Established in 1985, the company undertakes all activities related to real estate, such as contracting and technical and engineering supervision, as well as conducting feasibility studies and drawing engineering designs for itself and third parties. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
