Almaze,
I don't know how you look at it; for me, it's better not to touch it until you get the capability of restoring it the right way. Yes, protect it from further damage. So, Shaebia made the right decision; they'll restore it all when they get prosperous soon by doing business with p2, their southern neighbor.
You can build another Dubai/Vegas or Mekele quick somewhere else for that matter? Who wants that? Or build ugly mush mash glass scrapers like in Addis all over without even sparing play ground for kids and lacks parking spaces? Thanks god, Abiy is demolishing some of them ugly structures to have public walk ways on Churchill road!
I say keep Asmara/Masawa the way it is by restoring it when you are able to. I know it's the fascists who designed it but, it's there and is nice; I loved that video that was posted earlier of old row Asmara not painted with cheap stuff. Rows and Rows of commercial/residential outlets with no high rise in between. Even old folks riding their bikes comfortably; I wonder why they don't have Bajajs? I guess if you don't have crowds why bother? Do the walking! Good for you!
When restored, it's going to be beautiful and Eritreans can do it.
Inshallah!