The Supreme Council of Planning and Urban Development approved yesterday implementing the Maspero Triangle development project, which will cost an estimated EGP 4 bn, Al Shorouk reports. The council, headed by Prime Minister Sherif Ismail, also sanctioned compensations for the area’s current residents, including being relocated inside or outside the area, or receiving monetary compensation. Deputy Housing Minister for urban development Ahmed Adel Darwish had previously said that families will be allowed to choose between purchasing residential units in Al Asmarat, to be paid off in monthly installments of EGP 300, or renting areas in the Maspero area after the development is complete.

Tags: