Social Housing Fund prepares to offer 15,000 rental housing units within a month
Minister Randa Al-Munshawi, Minister of Housing, Utilities, and Urban Communities, announced that the Social Housing and Real Estate Finance Fund, under the ministry’s auspices, is prepared to offer 15,000 residential units on a rental basis in several governorates and new cities within a month, in accordance with the conditions approved by the Cabinet.
She added that this offering implements directives issued by President Abdel Fattah El-Sisi regarding the provision of residential units on a monthly rental basis to citizens, thereby helping to meet the needs of a large number of citizens across the republic to obtain housing commensurate with their financial capabilities.
The Housing Minister clarified that the new rental announcement by the Social Housing and Real Estate Finance Fund includes 8,464 units in governorates, 3,256 units in new cities, and 3,280 units implemented under the presidential initiative “Hayat Karima” (A Decent Life). She noted that these units will be offered in addition to the 5,000 units on a rent-to-own basis previously announced by the New Urban Communities Authority, also within a month.
Al-Munshawi pointed out that the Social Housing and Real Estate Finance Fund continues to offer residential units under the presidential initiative “Sakan Lel Masryeen” (Housing for All Egyptians) and is preparing to launch a new announcement for units in the low-income segment axis on a ownership basis in governorates and new cities before the end of the current year.
The Housing Minister emphasized that the ministry is keen on diversifying the axes of residential units offered to meet the needs of various societal segments, providing multiple housing alternatives suited to citizens’ income levels and financial capacities, and contributing to achieving the state’s goals of providing adequate housing and improving the quality of life.
For her part, Mai Abdel Hamid, CEO of the Social Housing and Real Estate Finance Fund, stated that the new rental announcement by the fund includes offering 8,384 units of 90 square meters and 80 units of 75 square meters in governorates. She added that the 90-square-meter units offered by the fund in governorates are located in the following governorates: Cairo, Giza, Qalyubia, Menofia, Damietta, Ismailia, Suez, Beheira, Beni Suef, Fayoum, Assiut, Sohag, Qena, Luxor, Aswan, and Matrouh, while the governorate of Minya is the only one offering 75-square-meter units. The CEO of the Social Housing and Real Estate Finance Fund said that the new rental announcement also includes offering 3,256 units in new cities, comprising 2,606 residential units of 90 square meters and 650 units of 75 square meters.
