CAIRO, Dec 31 (MENA) – Housing Minister Sherif Al-Sherbiny announced that Egypt is implementing major urban development projects in central Cairo with investments totaling EGP 22.2 billion.

These projects aim to restore Cairo’s historic and cultural identity while modernizing its infrastructure to position the city as a global tourism and cultural hub.

Speaking at a ceremony attended by Prime Minister Mostafa Madbouli to hand over units of the "Arabesque" project in Sour Magra el Oyoun district, the minister detailed ongoing efforts, including the redevelopment of the Maspero Triangle, Azbakeya Park, and Ain El-Sira Lake, as well as the transformation of Fustat Gardens and Khedival Cairo.

These initiatives aim to enhance Cairo’s architectural legacy, increase green spaces, and improve urban living standards while creating economic and cultural opportunities.

In the Maspero Triangle, new housing units are accommodating relocated families alongside investment housing and commercial development.

At Ain El-Sira, the government is converting the area into green recreational spaces, complementing efforts to develop Fustat Gardens with cultural and heritage zones.

Meanwhile, Azbakeya Park is being revitalized to preserve its historical features, including its iconic trees, fountains, and structures.

The "Arabesque" project, a collaboration with the Saudi-Egyptian Construction Company (SECON), has sold 950 units worth EGP 5.2 billion, reflecting strong demand and investor confidence. (MENA)

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