Housing: 2,300 apply for daily lease-to-own units
Medhat El Hamed, CEO of the Social Housing Fund and Mortgage Support Fund, announced that approximately 2,300 citizens applied on the first day of opening registration for the lease-to-own units project. Beneficiaries are permitted to own the units after one year of starting the lease through the mortgage financing system, with subsidized interest. The monthly rent ranges between 1,500 and 5,000 Egyptian pounds, depending on the location and size, with an annual increase of 7%. Registration is open from September 28 to October 28 via the Egypt Digital platform, provided applicants submit income documents proving their net monthly income. The units, measuring between 75 and 100 square meters, target newlyweds from low-income groups, with a maximum family income of 16,000 Egyptian pounds per month.
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