The Slum Development Fund will launch 7,000 residential units in the Manshiyet Nasser district in Cairo, over an area of 140 acres, in efforts to replace unsafe slums, reported Al Borsa.
The project will be completed in 2017, whereby the first phase of the project includes 87 buildings that comprise a total of 2,600 residential units, with a total cost of EGP 600 million.
The Armed Forces Engineering Authority will play a major role in the project’s construction, which aims to raise the socio-economic standards of residents, stated Ahmed Darwish, Deputy Minister of Housing for Urban Development.
The type of units will range according to the needs of residents, and are expected to include two-bedroom and three-bedroom apartments, Darwish added.
The Slum Development Fund has moreover signed an agreement with the Cairo governorate to collaborate in developing unsafe areas in Cairo, including area of Al Shohba in Manshiyet Nasser, according Youm7 News.