Hisham Abdel Aziz, head of the Reform and Renaissance Party, stated that the old rent law represents an intertwined file between the economic aspect represented by a large and unexploited real estate wealth on the one hand, in addition to the aspect that caused a state of imbalance between the rights of owners and tenants on the other.

 

Abdul Aziz added that the current economic reality, with its continuous changes such as high inflation rates and declining purchasing power, imposes an urgent need to reconsider this law in a way that achieves justice between the two parties, stressing that dealing with this crisis requires a comprehensive plan that is characterized by gradualism and justice, stressing the importance of starting by listing all properties subject to the old law and classifying them into closed and inhabited properties.

 

 

Hesham explained that the rental value of closed properties can be adjusted immediately without harming any party, while inhabited properties need a well-studied transitional period of no less than five years, during which rents are gradually adjusted, giving tenants enough time to adjust their situations to the new changes.