Real estate leasing contracts have recorded EGP 10.4 bn from January to August 2016, according to Sherif Samy Chairman of Egyptian Financial Supervisory Authority (EFSA).
The increasing value of the dollar and the new value-added tax (VAT) are expected to result in an increase in the prices of social housing units, according to Mai Abdel Hamid, Head of the Mortgage Finance Fund.
Mortgage finance companies have provided only EGP 2.5 million to citizens with incomes lower than EGP 2,500 during the first eight months of 2016, according to the Egyptian Financial Supervisory Authority.
Property and land leasing represent 73% of leasing contracts, with costs of EGP 8 billion, said Sherif Samy, Head of the Egyptian Financial Supervisory Authority.