The Egyptian government, through the New Urban Communities Authority, has launched a new offering of residential units under the 'Sakan Misr' program, which operates on a rent-to-own system. This program allows individuals to rent housing units with the option to purchase them after a set period. The rental prices and insurance fees for these units vary depending on their location, size, and the specific project they are part of.
In the Giza governorate, specifically in the New October City, there are 85 available units with areas ranging from 106 to 118 square meters. The monthly rent for the first year starts at 9,005.80 EGP and can go up to 12,592.26 EGP. The insurance fee for the first three months ranges from 27,017 EGP to 37,777 EGP. These units are considered part of the premium housing category.
The New Alamein City in Matruh governorate offers 50 units with areas between 110 and 130 square meters. The monthly rental prices for the first year range from 13,479.98 EGP to 16,231.47 EGP. The insurance fee for the first three months starts at 40,440 EGP and can reach up to 48,694 EGP. This city is one of the new developments aimed at providing better living conditions.
In Damietta governorate, specifically in the New Damietta City, there are 15 units available, each with an area of 115 square meters. The monthly rent for the first year starts at 11,577.47 EGP and can go up to 12,040.57 EGP. The insurance fee for the first three months ranges from 34,732 EGP to 36,122 EGP. This offering is part of the government's efforts to increase the housing supply.
The New Mansoura City in Dakahlia governorate offers 106 units with areas ranging from 106 to 133 square meters. The monthly rental prices for the first year range from 11,494.63 EGP to 14,977.22 EGP. The insurance fee for the first three months starts at 34,484 EGP and can go up to 44,932 EGP. This project aims to provide affordable housing options.
In Minya governorate, there are 20 units available in the New Minya City, with areas ranging from 106 to 115 square meters. The monthly rent for the first year starts at 7,966.67 EGP and can go up to 9,151.51 EGP. The insurance fee for the first three months ranges from 23,900 EGP to 27,455 EGP. This is part of a broader strategy to develop new urban areas.
The New Naser City in Asyut governorate offers 117 units with areas ranging from 106 to 118 square meters. The monthly rental prices for the first year start at 7,496.59 EGP and can go up to 8,836.16 EGP. The insurance fee for the first three months ranges from 22,490 EGP to 26,508 EGP. Rental prices are subject to a 10% annual increase for 20 years, as stated in the terms and conditions of the New Urban Communities Authority.
Key points
- The rental prices for 'Sakan Misr' units vary significantly based on location and size.
- The insurance fees for the units also differ based on location and size.
- The rental prices are subject to a 10% annual increase for 20 years.
