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Maadi Company for Development and Construction is nearing a cooperation protocol with Cairo Governorate and the Informal Settlements Development Fund (ISDF) to remove continuous urban encroachment to Fustat City, in Old Cairo.
Fahd Derbala, Maadi’s chairman and managing director, said Wednesday that his company is negotiating with the governorate and the ISDF to put an end for these encroachments and restore its land plot in the Fustat City.
“We expect to sign the protocol within the next few months,” Derbala added.
“We already own 800 feddans in Fustat, yet we couldn’t develop more than 100 feddans,” Derbala noted.
