Housing of Representatives: The “old lease law” is a courageous step that was very late and restores the balance of the owner’s relationship

Representative Dr. Ahmed Abdel Majid, Undersecretary of the Housing Committee in the House of Representatives, stressed that the Egyptian state will confront the dilemma of the old rental law represents a long -awaited courageous step, reflecting the political will in addressing one of the most prominent social and economic files for decades, and achieving justice for all parties. Old rents represents a qualitative shift in organizing the rental relationship, as it seeks to restore the balance between the rights of owners and tenants in a framework of justice and objectivity, noting that the continuation of the current situation caused great grievances to the owner and a clear imbalance in the real estate market. For its owners, pointing out that the new draft law takes into account the social dimension and does not aim to harm the tenants, but rather gives them a 7 -year trading period that guarantees the organized evacuation, while providing appropriate alternatives to the unable groups.

Ahmed Abdel Majid confirmed. The aim of the amendments is not exclusion, but rather to achieve justice and fairness for the two parties, to ensure the stability of the real estate market, and to stimulate investments in this vital sector. He also explained that the law keeps pace with the developments of the current stage and the large increase in the housing supply, which makes its application necessary and realistic.

& nbsp;

& nbsp; However, the government is committed to providing suitable housing alternatives for the most needy groups, whether through rent or ownership units, while giving priority to the first families with care, which reflects the concern for the human and social dimension in dealing with the file. The housing sector, and one of the most important tools for correcting historical distortions that disrupted the investment of real estate wealth for decades, calling for wide societal support for this fair and balanced legislative trend.

• For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and