Executive Director of the Development Fund for Slums Khaled Siddiq said that work is ongoing on three residential towers in Maspero Triangle to welcome its former dwellers, Invest-Gate reports.
This came during a meeting with Minister of Housing, Utilities, and Urban Development Assem El Gazzar and Cairo Governor Khaled Abdel-Aal to follow up on the latest updates of the Maspero Triangle development project.
Each of the first two towers comprises an underground parking, a commercial ground floor, and first-floor parking, in addition to 16 residential stories, while featuring ten elevators and four entrances, Siddiq added in a press statement on January 19.
The third development consists of a commercial ground floor and ten residential stories with three elevators, the fund’s official highlighted.
Covering a surface area of 75.19 acres, Maspero Triangle is located in downtown Cairo, overlooking the eastern side of the Nile and having a waterfront length of 900 meters.
Furthermore, the neighborhood comprises some of the valuable and distinguished buildings such as Maspero Television Building, the Ministry of Foreign Affairs, Dar El Maaref, and Ramses Hilton Hotel.
In June 2019, 97% of rubble were extracted off-site in Maspero Triangle. The project comes as part of the state’s keenness to develop the country’s slums and improve the livelihood of the underprivileged and marginalized groups by 2018, which was introduced back in 2014 after it has been estimated that 40% of Cairenes live in informal settlements.