The president expressed his frustration with the old rent law, stating, "it is unacceptable that [the units] remain closed off, like that."
He made his remarks during a session on national projects and infrastructure during the second day of the Story of the Homeland conference in the New Administrative Capital.
"We are dealing with a segment of the population affected by a law enacted in 1962... Should they continue to benefit for the rest of their lives and the lives of their children?"
He stressed that it is regrettable to lose this value while these housing units remain inaccessible.
Under the old rent laws, which apply to houses and apartments in predominantly upscale districts of Cairo such as Heliopolis, Zamalek, Garden City, and downtown, apartments worth millions can still be rented out for as little as EGP 17-30 a month due to rent freezes.
This situation has remained unchanged for decades, despite complaints from landlords and building owners. The Supreme Constitutional Court (SCC) has issued rulings, and there have been various attempts to address this long-standing issue.
A joint parliamentary committee composed of six MPs and four government officials began meeting in February 2021 to restore a fairer balance between tenants and landlords. The initial phase of their work has focused on non-residential units such as shops and properties rented by legal entities, including the headquarters of political parties.
The committee intends to introduce gradual changes to the law, recognizing that many tenants are pensioners who cannot afford a sudden and dramatic increase in rents.
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