Egyptian gov't discusses mechanisms to provide 100K furnished housing units for rent

CAIRO - 2 January 2021: Prime Minister Mostafa Madbouly held a meeting to follow up on the implementation of President Abdel Fattah El-Sisi's orders to provide 100,000 furnished housing units for rent, to be available to newly married couples.

Minister of Housing, Utilities and Urban Communities, Assem El-Gazzar, and Executive Director of the Social Housing Fund Mai Abdel Hamid participated in the meeting.

Mustafa Madbouly directed, to crystallize the elements of this study, and to discuss the possibility of adding an option that allows leasing for the purpose of ownership at the end of the period, taking into account that these units are in attractive places, including some units in the project to develop the provincial capitals, in preparation for presentation to the President of the Republic, according to a statement issued, Sunday.

At the beginning of the meeting, the Prime Minister stressed the great importance of what President Abdel-Fattah El-Sisi announced during the activities of Upper Egypt Week, regarding facilitating access to adequate housing for newly married young people, through furnished housing units that are rented to them at reasonable prices, which reflects the great concern on the part of the political leadership to providing all aspects of support for young people who are about to get married.

For his part, the Minister of Housing reviewed the elements of the study prepared by the Social Housing Fund, on the number of proposed units, their places of distribution, the mechanisms through which funding and furnishing of these units will be provided, and coordination in this regard with the Ministry of Social Solidarity, and determining the entity that will contract with youth and collect the monthly rent.