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Egyptian government promotes rent to boost new city appeal
The article discusses the efforts of the Egyptian government to stimulate interest in new cities by offering residential units through rental and lease-to-own schemes, aimed at addressing low occupancy rates and declining demand for development projects. The ministry announced the release of 25,000 units across 26 cities, with 10,000 units already underway and available. It also seeks to expand the initiative, anticipating increased demand and improved occupancy rates. New city housing faces challenges related to inadequate job opportunities and lack of essential services in the infrastructure, which threaten their success—particularly in attracting residents. Experts emphasize the importance of providing employment opportunities and services to achieve sustainable population balance.
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