EgyptMain Sliderrecommendations

Egypt opens up land sales to foreigners for US dollars

In an effort to boost foreign currency reserves, Egypt will sell designated plots of land to foreign businesses for US dollars.

The approval pertains to 62 undisclosed applications for land from foreign investors, the Egyptian cabinet announced on Wednesday.

The decision spans across the country, encompassing cities like New Damietta, October Gardens, New Obour, New Assiut, New Sohag, New Cairo, New October, Badr, Al Shorouk, Tenth of Ramadan, and New Borg al-Arab.

These lands are zoned for diverse uses to support development, including residential areas, hotels, business centers, and various industries.

The Egyptian government gave the green light to this land sale plan at their recent cabinet meeting, which was also approved by The New Urban Communities Authority.

Related Articles

Back to top button