Politics
Egyptian housing authorities deny rent-to-own apartment rumors, outline rental-only plan
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Egyptian housing authorities deny rent-to-own apartment rumors, outline rental-only plan
Officials have clarified that an upcoming offering of 10,000 rental units will not include a rent-to-own scheme and will require monthly payments of 2,000–2,500 Egyptian pounds.
- Officials denied rumors of 25,000 rent-to-own units with monthly installments of 500–1,500 pounds.
- The units will be rental-only under three-year renewable contracts, with no six-year term.
- Tenants may later apply to purchase the unit at its value at the time of purchase request.
- The offering is limited to 10,000 units, 80% in governorates, with a maximum applicant age of 35.
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