CAIRO – 23 February 2022: The House of Representatives passed Wednesday amendments to the ‘old renting’ law to terminate the tenure of legal persons five years from now.
Legal persons as defined by Article 52 of law no. 131/1948 are governmental and municipal bodies; religious entities; endowments (units allocated to charity); commercial companies; associations and political parties; and, shops.
Once the law goes into effect, the value of rent of units occupied by legal persons will increase five fold, and will increase 15 percent annually for four years. After the five years are over, tenants must clear the unit, or else, the owner will have the right to file an eviction case.
Egypt Today
