Protocol signed by Egypt, Alwaleed Philanthropies to build 1K low-cost flats
Prince Al-Waleed bin Talal - Youm7 Archive
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CAIRO: A cooperation protocol to build 10,000 residential units was signed Monday by Egypt’s Cabinet, Masr el-Kheir Egyptian charity and Saudi Alwaleed Philanthropies, Youm7 reported.

A total of 1,000 units, ranging between 55 to 63 square meters each, will be provided every year to deprived families in Egypt at low-costs over 10 years.

Prince Al-Waleed bin Talal will sign the protocol on the sidelines of a scheduled meeting with President Abdel Fatah al-Sisi. Housing Minister Moustafa Madbouly, Local Development Minister Adel Labib and Social Solidarity Minister Ghada Wali will also sing the protocol.

Egypt is trying to solve the problem of unplanned areas scattered on the outskirts of big cities. While some slums may be provided with infrastructure, others are located in “life threatening areas,” such as under the hills of Mukattam in Cairo.

 

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