Sherif El Sherbini, Egypt’s Minister of Housing, Utilities, and Urban Communities, announced changes to the income limits for citizens seeking to apply for housing units under the “Housing for All Egyptians” initiative, which targets low and middle-income citizens, Invest-Gate reports.

These adjustments come as part of the government’s efforts to expand access to affordable housing through the Social Housing and Mortgage Finance Fund (SHMFF).

El Sherbini emphasized that the changes were made after careful economic analysis and aimed to ensure that a larger population could benefit from the housing program.

For her part, Mai Abdel Hamid, CEO of SHMFF, explained that the revised income limits will allow more citizens to secure subsidized housing, which aligns with the initiative’s goal of providing suitable housing for all.

Moreover, for low-income citizens, the minimum net monthly income to qualify for mortgage financing has been set at EGP 3,500. The maximum monthly income is capped at EGP 15,000 for families and EGP 12,000 for individuals.

Furthermore, for middle-income citizens, the minimum net monthly income required to apply for a housing unit is now EGP 12,000. The maximum monthly income is EGP 25,000 for families and EGP 20,000 for individuals.

Notably, these adjustments aim to ensure broader access to affordable housing while supporting the overall goals of the “Housing for All Egyptians” initiative.