The Egyptian Ministry of Housing, Utilities and Urban Communities has announced plans to offer 25,000 rental units in 15 provinces, starting Sunday, September 20. This initiative aims to provide new housing options for citizens, with the possibility of converting rental units to ownership after a specified period. The move is part of the government's efforts to address the housing needs of its citizens.
The first phase of the initiative will be implemented by the Social Housing Fund and Real Estate Finance Support, which will offer 15,000 units with areas ranging from 75 to 90 square meters. These units will be available in various provinces and cities, including Cairo, Giza, Qalyubia, and others. Additionally, 10,000 units will be provided by the New Urban Communities Authority, with 5,000 units already completed and 5,000 units under construction.
The rental units will be offered through two separate platforms. The Social Housing Fund and Real Estate Finance Support will use the "Egypt Digital" platform, while the New Urban Communities Authority will use the "Maskan" platform. The application period for the Social Housing Fund units will start on September 20, with a dedicated week for people with disabilities, followed by a general application period until October 28.
The units offered by the New Urban Communities Authority will have diverse areas, ranging from 57 to 161 square meters. The application period for these units will be open for one month, starting September 20. The initiative aims to provide affordable housing options for citizens, with a focus on low-income families and individuals.
To apply for the units, citizens will need to pay a registration fee of 365 pounds and a 10,000-pound insurance deposit. The application process will be conducted online, and citizens can start applying on September 20. The Ministry of Housing has set specific eligibility criteria, including age and income limits, to ensure that the units are allocated to those who need them most.
The initiative also offers the possibility of converting rental units to ownership after a specified period. For units offered by the New Urban Communities Authority, citizens can rent the units with the option to purchase them after a certain period, with a maximum repayment period of 20 years. This aims to provide citizens with a flexible and affordable housing option.
The Egyptian government's efforts to address the housing needs of its citizens are ongoing. The Ministry of Housing has emphasized its commitment to providing affordable and diverse housing options, and this initiative is a significant step towards achieving this goal. With 25,000 rental units available, the initiative is expected to have a positive impact on the lives of many Egyptian citizens.
Key points
- The Egyptian Ministry of Housing to offer 25,000 rental units in 15 provinces, with the possibility of converting rental units to ownership.
