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Maya Abdelhamid Details 20,000 Housing Units
Dr. Mai Abdel Hamid, CEO of the Social Housing and Mortgage Finance Support Fund, announced the launch of 20,000 new housing units. This includes 5,000 units offered through a rent-to-own system via the Urban Communities Authority, and 15,000 units available for rent through the Social Housing Fund with an option to own later. The units are fully finished, with sizes ranging from 75 to 90 square meters, and beneficiaries can receive them immediately once all conditions are met. The rental cost will be determined based on the beneficiary's income, representing 25% of it, with age and eligibility requirements in place. Specifically, applicants should not be older than 35 years, with some exceptions for former tenants, to ensure that support reaches those eligible.
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