Egypt’s Nile University (NU) is preparing to launch two investment opportunities for the construction, development, marketing, operation, and maintenance of two projects. The first is for residential buildings and the second is a sports complex through a build-operate-transfer (BOT) system.
Under a BOT contract, an entity grants a concession to a private company to finance, build, and operate a project for a period of 20-30 years.
During a press conference held on Sunday, Tarek Khalil, NU president and acting dean, of the School of Management of Technology (MOT) said that the booklet of conditions will be offered for developers early next month and the university will decide on offers and choose the wining company within 6 months.
Kalil elaborated that NU to offer projects in a to developers as it believes that investors and developers, should be involved in the university’s development plans and programmes, adding that the winning companies of the two projects will complete them within three years of the start of construction.
On the other hand, Fathallah Fawzi, consultant of the two projects, said that the BOT mechanism means that a selected investor or developer has to plan the design, financing, construction, development, marketing, operation, and maintenance of the two projects for a specified period .
Afterwards, the facilities are to be transferred under the management to the university at the end of the contract free of charge.
Fawzi elaborated that the project’s development takes place without any financial burden on the government.
Essam Roushdy Industrial Program Director and NU Business Development Director said that the university has a land area of 38,600 sqm for residential purposes, and another 42,400 sqm for the construction of a sports complex.