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FinancialNews
29-06-21
Flotation of pound causes increase in cost to 32 billion Egyptian pounds
(MENAFN)According to Director of the Slum Development Fund Khaled Siddik, the bill for eliminating slums in Egypt is going to be 40 billion Egyptian pounds (USD2.55 billion).
About 357 areas and 1,105 markets were identified for redevelopment, and construction of the last 45,000 housing units would be implemented within two months, Siddik further declared.
Some 21 percent of the residents of the Maspero Triangle had elected to return to the area and they were given a choice of three housing options, stated the fund director.
A future plan was set to develop the unplanned areas and Islamic Cairo, Siddik added.
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