MP Mohamed Atia El-Fayoumi, Chairman of the Housing Committee in the House of Representatives, confirmed that the government will launch a dedicated media platform for registering tenant applications for rental units as soon as the new Old Rent Law is announced and published in the official gazette.
In a phone interview during the television program “Hazrat Al-Muwaten” (Dear Citizen), El-Fayoumi explained that the first phase of the law’s implementation will include an increase of EGP 250 in residential rent value for only three months, in favor of the landlord.
He added that rent values will then increase gradually based on the nature of each area. These increases will be implemented in installments over at least another three-month period. El-Fayoumi also noted that the state will bear the responsibility of providing alternatives for citizens benefiting from services in hospitals and schools, affirming that these institutions will not be burdened with any additional costs resulting from the new law’s application.
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