Criteria for new rental units eligibility
Engineer Mai Abdel Hamid, CEO of the Social Housing Fund, revealed details about the system for owning residential units that are rented for at least one year. Beneficiaries can apply after one year from the start of the rental if their financial situation improves and they become capable of paying the unit's down payment. The unit's price is determined, and previously paid amounts are calculated, allowing the remaining balance to be financed through a supported-interest mortgage system. Application requirements include proof of income and a field inspection to verify that the applicant does not own a previous residence. Priority is given to lower-income families, especially newlyweds. The system aims to enable families to own the units after the rental period, targeting those planning to marry who do not yet have supported housing units.
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