Egypt's Sovereign Fund, private sector partner up in establishing Cosmic Village’s school complex

CAIRO – 2 November 2023: The Sovereign Fund of Egypt (TSFE) and the private sector partnered up to establish the Cosmic Village’s school complex whose mission is delivering world-class education that is affordable to middle-income Egyptian families.

The project was inaugurated Thursday by Prime Minister Mostafa Madbouli, as four out of five schools within the first phase have begun operation in the current academic year.   

The project succeeded in turning what once was an unutilized state asset, the Cosmic Village land, into an integrated educational hub.

Minister of Planning and Economic Development Hala El-Said pointed out that the Cosmic Village’s school complex served the national goals set for the education sector. Those include catering to the needs of a wide segment of society, which is the middle class, and also achieving the national goal of raising the quality of the education system to meet international standards.

El-Said added that public investments in the education sector increased during FY 2023/24 by about nine times their value compared to FY 2014/15, recording almost LE76.2 billion.

The minister further stressed that the Cosmic Village’s school complex project represented one of the most important successes of TSFE as it is a materialization of its development and investment mission. She added that it is also an embodiment of the state’s commitment to expanding the role of the private sector and empowering it as a strategic partner the developmental process.

Two schools have been developed/built by Mobica Integrated Industries and are managed by Egypt Education Platform (EEP). Those are Westview International Language School (WILS), and Scholars International Language School (SILS).

The third is “Regent School,” which a joint venture between Cairo Investment and Real Estate Development Company (CIRA) and Elsewedy Capital, and is managed by Eduhive. The third is "Future Tech School," which is both is built and managed by CIRA.

The number of students in the four schools has reached about 1,000. Yet, the target is 10,000 students upon the completion of the project's first phase. In that framework, a partnership contract for the establishment of the fifth school (a French school) will soon be signed.