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Housing clarifies rental units plan
The Ministry of Housing has announced the opening of applications for the reservation of 25,000 residential units across governorates and new cities, under both rental and lease-to-own systems. The initiative aims to meet the needs of young people and those preparing for marriage who face difficulties in paying large down payments. A demographic study of the most in-demand areas has been conducted to implement this program. The Social Housing Fund is offering 15,000 units for a 3-year rental period, renewable, with the option for ownership. Meanwhile, the New Urban Communities Authority is offering 10,000 units under a lease-to-own system, requiring a down payment equivalent to three months’ rent, with the possibility of installment payments over 20 years. Applications start today and will be accepted until October 28, with the goal of providing affordable units suitable for low-income individuals.
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