The Sovereign Fund of Egypt (TSFE) has announced a new partnership with Tanweer for Educational Services to build the fifth school in the Cosmic Village, a comprehensive educational complex in the city of 6th of October. This partnership comes after the successful launch and operation of four schools in the first phase of the Cosmic Village project, which was developed by TSFE in collaboration with leading private-sector educational experts.
Hala El-Said, Minister of Planning and Economic Development and Chairperson of TSFE, said that the project reflects the fund’s role in utilizing unused state assets and generating returns from them. She stressed that investing in education is one of the best ways to achieve this goal.
El-Said also revealed that more partnerships and investments are planned to establish around 100 schools across all Egyptian governorates in coordination with the Ministry of Education and Technical Education. The aim is to provide quality education at an affordable cost for the middle class, in line with the Egyptian state’s vision of investing in human capital and promoting real development in society.
Ayman Soliman, CEO of TSFE, highlighted the promising investment opportunities in the education sector in Egypt. He said that the fund seeks to create competition and innovation in the sector while ensuring investment returns to lower costs and improve quality.
Soliman praised the Cosmic Village project as a successful model of maximizing the value of state-owned assets by transforming idle land into a state-of-the-art educational complex in partnership with the private sector and education specialists. He said that this model will be replicated in various governorates, contributing to the enhancement of educational services, human capital development, and financial sustainability.
Ehab Rizk, CEO of Education, Agriculture, and Food Industries Investments at TSFE, confirmed that the partnership with Tanweer for Educational Services is in line with their vision to create a diverse and differentiated educational complex in the Cosmic Village with the best expertise from the private sector. He said that the new school will offer both French and Egyptian national curricula, catering to the needs and preferences of different segments of society.
Amr Elseginy, CEO of Tanweer for Educational Services, expressed his delight at partnering with TSFE to build the fifth school in the Cosmic Village, which is part of the company’s expansion plan in the education sector in the east and west of Cairo. He said that the new school, which is expected to start operating in two years, will be a key component of Tanweer’s ambitious plan to reach 30,000 students by the end of the decade through establishing new schools, acquiring existing ones, and managing and upgrading them. He also added that Tanweer aims to export its excellent educational products to the regional market.
In early November, the Prime Minister inaugurated four schools on the Cosmic Village land: Regent, Future Tech, WILS, and SILS, in partnership between the fund and Cairo Investment and Real Estate Development companies, as well as Mobica for Integrated Industries and the Egypt Education Platform.
The ownership of the Cosmic Village land in 6th of October City was transferred to the Egypt Sovereign Fund for Investment and Development by the President’s Decree No. 459 of 2020. The first phase of the Cosmic Village development project includes the establishment of five schools and a sports club.