Maspero
Triangle Project
The construction
boom that Egypt is currently witnessing does not stop at building new cities
but also includes developing the khedivial Cairo area and eliminating informal
settlements, including the Maspero Triangle Development Project.
The Maspero Triangle
Development Project is one of the mega projects that aims to eradicate informal
settlements, restore Cairo's previous glamourous state, and change the map of
this historic area.
The project is part
of the national strategic plan for urban development as well as economic,
social, environmental, education, security, and cultural development, which
will contribute to building an integrated society that improves the lives of
citizens and raises their aspirations.
The Egyptian
political leadership is closely following up on the executive status of the
Maspero Triangle Development Project, which integrates with the Ahl Misr
Walkway Project.
Maspero Triangle Location
The Maspero Triangle – a name derived from its triangle shape on the
map- dates back to the Mamluk era and is one of Cairo’s historic neighborhoods
located at the east of Cairo.
Moreover, the Maspero area houses the headquarters of the Egyptian Radio
and Television Union, the Ministry of Foreign Affairs, Dar El Maaref Printing
and Publishing House, the Italian Consulate, Abu El-Ela Mosque, Hilton
Ramses Hotel, and the Royal Vehicle Museum.
The total area of the Maspero
Triangle is 75 acres, including the buildings mentioned above, while the target
area for development is 40 acres.
The Maspero Triangle
development project is divided into a residential, commercial, and entertainment
areas. It worth L.E one billion and 800 million.
The government has listed five methods of compensation for the Maspero
Triangle’s residents in return for their homes, which will be demolished and
replaced with commercial and residential buildings over three years.
These options include: leasing an apartment in the area after
development is complete, to be owned after 30 years; renting a home in the
area; buying a home in the area; receiving a one-time financial compensation of
EGP 100,000; or relocating to El-Asmarat neighborhood in the Muqattam district.
A total of nine towers are
under construction in the Maspero Triangle project, as part of the
developmental plan of slum areas in the country.
Progress has been made in the
project, with the heights of the towers reached 17 floors thus far, while two
new towers are under construction.
The project consists of a
basement (lower garage) with a flat 19,220 m, a capacity of 353 cars, a ground
floor (commercial) with an area of 16,970 m, a first floor (an upper garage)
with a surface of 15800 m and a capacity of 280 cars, and two towers for
alternative housing for the residents of the Maspero Triangle area.
A commercial and entertainment
areas will be established to serve the towers.
The heights of the towers will
reach 30 floors, and tourist and hotel towers will be constructed in the area
located on the Nile. As for the western side of the project, it has been
allocated for administrative and commercial purposes, and the center of the
project will be an entertainment area, with an investment cost of 10 billion
pounds.
Three towers are previously
announced to be established in Maspero Triangle on the Nile Corniche in Cairo,
and will be called “Maspero Nile Towers.”
