The House of Representatives signed off on the Social Housing and Mortgage Finance Support Act on Wednesday. Under the new law, the Social Housing Fund and the Mortgage Finance Fund will be merged into a single entity to streamline mortgage financing procedures, according to Housing Minister Mostafa Madbouly. The law also sets a framework for the pricing of land and state-subsidised housing, as well as the services to which residents in those projects have access. According to Mortgage Finance Fund Chairman Mai Abdel Hamid, the law protects citizens’ rights to access safe and affordable housing and supports a government-led, countrywide urban development plan.