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.