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Thursday, 13 December 2018

Egypt’s Hassan Allam, Arab Contractors to develop Maspero Triangle

Hassan Allam, Arab Contractors to undertake Maspero development project: Hassan Allam, Arab Contractors and an unnamed company are among the six companies selected to re-develop the Maspero Triangle, Housing Ministry sources said yesterday. The New Urban Communities Authority (NUCA) has also started building residential blocks for the 950 families who chose to stay after the project is complete and will pay EGP 2 bn in compensation for the owners of the land it had reclaimed. The government had approved the EGP 4 bn project to clear the informal settlements and develop the area back in 2017 before reaching an agreement with the affected residents a while later.

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