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Housing clarifies rental vs lease-to-own
The Ministry of Housing announced the launch of 25,000 residential units during September, available through both rental and lease-to-own systems. The units include 10,000 units via the New Communities Authority, of which 5,000 are under construction and 5,000 others will be developed, under the lease-to-own scheme. Additionally, 15,000 units are available through the Social Housing Fund to support mortgage financing. Applicants must be young, not older than 35 years, and must not have previously received any supported housing units. Applications are to be submitted via the Egypt Digital platform. The units will vary in size, ranging from 70 to 90 square meters. This initiative marks a record-breaking experiment to assess demand and aims to expand rental programs in the future.
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