The government resolves the controversy over the sale of the Maspero Triangle area to an investor



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02:02 p. M.

Thursday 26 November 2020

Books – Muhammad Nassar:

The Media Center of the Council of Ministers confirmed that what was circulated about the sale of the Maspero Triangle area for the benefit of a foreign investor was incorrect.

The central said in a statement today that the Ministry of Housing, Public Services and Urban Communities has been contacted, which denied the news, confirming that it is not correct to sell the Maspero Triangle area for the benefit of any foreign investor.

Al-Iskan explained that the state is currently working on the implementation of a project to develop the Maspero area, with the aim of maximizing the added value of this area, eliminating marginal neighborhoods and adding attractions for commerce and tourism.

He indicated that the people who chose to return to the area and rejected financial compensation or move to new cities will be relocated, since it was decided to assign them part of the residential towers in the area, in order to provide safe and differentiated housing to citizens. who used to live in this area.

In a related context, the Maspero Triangle development project includes residential, administrative and hotel activities to be a tourist and commercial attraction in the heart of Cairo, where 4,000 housing units are currently being built with a number of floors up to 12 floors per building, so that the residents of the area return again to the Maspero Triangle area. While the center of the project will be an entertainment area.

The Ministry asked all the media and users of social networks to investigate the accuracy and objectivity in the publication of news and to communicate with the competent authorities to make sure before publishing information that is not based on any fact and generates confusion among the citizens.

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