Six others were injured in the mishap, officials said.
The injured have been admitted to hospital.
A search and rescue effort have been launched to locate any survivors from under the rubble.
Building collapse is common in Egypt because of illegal extension of structures and failure to adopt construction guidelines.
Last year, 19 people were killed and eight others injured when an eight-storey building collapsed in Matariya district. The collapse was triggered by construction of unauthorised storeys.