Egypt launches 25,000 housing units via rent-to-own schemes

Egypt has launched a major housing initiative offering 25,000 residential units through rent and rent-to-own schemes. The offering is split between the New Urban Communities Authority, which is providing 10,000 units, and the Social Housing and Mortgage Finance Fund, which is offering 15,000 units as part of the ‘Housing for All Egyptians 9’ initiative.

The New Urban Communities Authority units are distributed across 26 new cities, including New Cairo, 6th of October, and New Alamein. These units range in size from 57 to 161 square meters, with 5,000 units ready for immediate delivery and 5,000 scheduled for construction over the next three years. Applications for these units are open until October 19.

The Social Housing and Mortgage Finance Fund units include 8,464 units in various governorates, 3,256 in new cities, and 3,280 within the ‘Decent Life’ (Hayah Karima) initiative. Applications for these units are open until October 28, with a specific period from September 20 to September 27 reserved for persons with disabilities.

Minister of Housing Randa El-Minshawi stated the initiative aims to provide flexible housing alternatives that match the financial capacities of different social groups. Eligibility criteria include age limits, income thresholds, and residency requirements, with 5% of the total units reserved for persons with disabilities via public lottery.