Palm Hills Developments and Taaleem Management Services announce signing a Shareholder Agreement to establish an educational company with the purpose of developing a University campus in Badya, PHD's integrated project that is currently under development in West Cairo. Through said platform, the joint venture will be developing a University in Badya which will include several faculties, subject to regulatory approvals, and is expected to serve up to 9,000 students. The investment cost is expected to be in the range of EGP1.6-1.9 billion, to be financed by equity and debt. The first faculty will be offering life sciences in collaboration with Medical University of Vienna International ("MUVI"). The faculty is expected to commence enrollments during 2022. The partnership is in active dialogue with a number of international universities and faculties to establish branches in Badya, Egypt.