Cairo – Mubasher: Cairo For Investment and Real Estate Development signed a credit facility agreement worth EGP 130 million with Qatar National Bank Al Ahli (QNB Al Ahli).
The loan will be used to resume the construction works of seven new faculties in Badr University in Cairo (BUC), in addition to building a new ‘Regent School’ in Mansoura, the company said in a statement to the Egyptian Exchange (EGX) on Monday.
Previously, the company said that the estimated cost for building four new schools is about EGP 300 million.
Over the period from September 2018 to last August, the EGX-listed firm reported a net profit of EGP 192.57 million, up from EGP 126.37 million in the year-ago period, including minority shareholders’ rights.
