The Ministry of Housing, Utilities, and New Urban Communities is preparing to launch ownership lease apartments in various cities and governorates in the coming period.
According to the plans, the ministry will offer these ownership lease apartments after announcing the applicants’ results for the “Housing for All Egyptians 5” project, which was recently fully booked.
Many citizens, especially those with limited incomes, are looking forward to these ownership lease apartments. These provide fully finished housing units at symbolic prices, allowing them to own the unit at the end of the leasing period under the terms of the Social Housing Fund. The monthly installment for 75-square-meter apartments starts at EGP 1,000, while 90-square-meter apartments start at EGP 1,300. The exact installment amount depends on the location and the applicant’s monthly income.
Conditions for Applying for Ownership Lease Apartments
The key conditions for obtaining a residential unit under the upcoming ownership lease program include:
- The applicant must be an Egyptian citizen.
- The applicant must be at least 21 years old.
- The applicant must not have previously received a housing unit from government projects.
- The applicant must not own any residential unit or house.
- The applicant must not have benefited from any previous mortgage finance initiatives launched by Egyptian banks.
Required Documents for Ownership Lease Apartments
To apply for the ownership lease apartments that will be offered soon, applicants must submit the following documents:
- A copy of the national ID card.
- Birth certificates of children.
- Marriage certificate (for married applicants).
- Proof of payment for the reservation deposit.
- Proof of payment for registration fees.
- Salary statement of the spouse (if applicable).
- A document proving income, stating the net monthly income.
