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Egypt’s slum development plan estimated at EGP 396.2bn

Egypt’s slum development plan estimated at EGP 396.2bn
A total of EGP 24.9 billion has been disbursed so far

By: Abdullah Bedeir

Cairo – Mubasher: The Egyptian Ministry of Housing has estimated the cost of slum development plan at EGP 396.2 billion.

The plan includes developing unsafe and unplanned areas and markets, according to a document reviewed by Mubasher. 

The cost of developing 357 unsafe areas comprising about 214,300 residential units as well as nearly 26,500 units of Ahalya 2 and Bashayer El-Kheir 3 and 5 projects is estimated at EGP 34.2 billion.

The data showed that 298 unsafe areas comprising about 165,900 have been developed so far and 59 areas featuring about 48,390 units are being developed.

A total of EGP 24.9 billion has been disbursed so far, and the remaining EGP 9.7 billion is expected to be disbursed during 2020, the executive director of Egypt's Informal Settlements Development Fund (ISDF) Khaled Siddiq told Mubasher.

Siddiq further revealed that some works at Maspiro triangle will be developed the next year.

An amount of EGP 318 billion has been allocated for the development of unplanned areas covering about 152,000 feddans. A total of 53 areas have been developed so far.

The plan for developing unplanned areas is projected to be implemented within 10 years, Siddiq added.

Moreover, the cost of developing 1,105 unplanned markets is estimated at EGP 44 billion. A total of 18 markets have been developed and 22 markets are being developed.

Previously, Siddiq revealed that the ISDF has allocated a budget of EGP 10.82 billion for 2020.