Developing unsafe areas in Egypt cost L.E. 44 billion: Slum Development Fund

CAIRO – 5 July 2021: There are 357 unsafe areas and 200,000 housing units are currently being developed, stated Executive Director of Slum Development Fund Khaled Seddik.

He added, in TV statements, that 240,000 unsafe housing units are being developed at a total cost of L.E. 40 billion.

He further said that the cost of developing unplanned areas is L.E. 318 billion, while slums are developed at a cost of L.E. 44 billion.

“The new initiative to develop governorate capital cities cost more than L.E. 300 billion,” he added.

The Executive Director of the Slum Development Fund explained that the implementation of the initiative to develop the capitals of the governorates has begun, with implementation rate in some areas reaching 20 percent.

“A total of 110,000 units are being developed, and about 10 billion pounds have been spent on developing them in just months,” he said.