Lease-to-own earnest deposit details

The article explains the "Lease-to-Own" system introduced by the Ministry of Housing for citizens—especially young people and those with limited income—to purchase residential units over a period of 20 years. It clarifies that the unit is initially considered owned by the beneficiary after allocation and receipt, becoming fully owned at the end of the contract term. The system involves paying a rent that increases by 10% annually, along with an interest subsidy ranging from 8% to 12%. The reservation deposit amount is set between 5,000 and 15,000 Egyptian pounds, depending on the project type. The article states that the purchase price of the unit is not reassessed after receipt, but beneficiaries can choose between a maintenance deposit or paying it monthly. In case of the beneficiary's death, the rights transfer to the heirs or the unit reverts to the Ministry. The article summarizes the procedures, costs, and conditions for obtaining the unit, emphasizing that the financial commitment is limited to paying rent throughout the contract period, and that the security deposit is refunded at the end of the contract.

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