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MOED mulls building new university

MOED mulls building new university

Arab Finance: The Egyptian Modern Education Systems (MOED) is studying building a new university in one of the new cities, in alignment with upgrading the company’s stock to the main market, according to a filing to the Egyptian Exchange (EGX) on June 9th.

A full feasibility study is currently under development including all phases of the project, and the company is searching for a plot of land suitable for the purposes thereof.

MOED said that it will resume the construction works of the International Education Building which were halted by the Covid-19 pandemic.

The building is expected to be operational as of the beginning of the academic year in 2023.

It is worth noting that MOED reported a 72.67% year-on-year (YoY) increase in net profits after tax during the first nine months of the fiscal year (FY) 2021/2022, recording EGP 5.32 million.

Established in 2001, Egyptian Modern Education Systems operates within the consumer services sector focusing on education services.

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