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Lease-to-own pilot for 15,000 units
My Abdel Hakim, the CEO of the Social Housing Fund and Mortgage Support, intends to launch a pilot project involving about 15,000 residential units on a rent-to-own basis for low-income individuals. The pilot will last for three years, with the possibility of renewal. The rent will be set at approximately a quarter of the beneficiaries' monthly income, supported by rent subsidies linked to the market value of each unit. A security deposit equal to three times the monthly rent will be required. The goal of this project is to provide ready-to-occupy housing units and enable beneficiaries to transition to ownership after the rent period ends, taking into account priorities such as duration of marriage, income, and age.
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