Foreign Companies Can Now Purchase Lands In Egypt With USD!

Foreign Companies Purchase Lands In Egypt

Have you heard the news? The Egyptian Cabinet has approved the land sales for companies and expatriates outside Egypt in United States Dollars! The decision came after the severe crunch of the liquidity in USD in Egypt which has made the government take such actions to provide more liquidity in the market.

Are you eager to know more about how this decision will impact the Egyptian economy and the real estate market? Let’s find this out in the following lines.

Land Sales To Foreign Companies Approved By Egypt

The Egyptian Government announced that foreign companies can now purchase lands in Egypt in USD. Why? To attract foreign investment and stimulate economic growth.

The decision allows companies from all over the world to purchase land in USD, which may increase demand for properties and boost property prices. Additionally, it could potentially strengthen the country’s foreign currency reserves and stabilize the exchange rate.

It’s worth noting that the statement did not specify which foreign companies are buying the land, or for how much but they announced the places that these lands are available at.

The lands available for sale for foreign companies in Egypt are located in the cities of:

New Borg El-Arab
New Cairo
October Gardens
New Damietta
Madinet Badr
New Sphinx
New October
6th of October
10th of Ramadan
New Sohag
Sheikh Zayed City
Obour
Sadat
New Aswan
Shorouk

But what will be the uses for these lands in Egypt available for purchase by foreign companies? USD? Let’s move to the next section and find out.

What Are The Uses Of The Egyptian Lands Sold in USD?

These new lands sold to foreign companies in USD will have many uses for a variety of projects including administrative, commercial, and residential real estate projects.

Also, it will be used for constructing a range of industrial projects, sports clubs, a world-class hotel, and an auto repair shop.

These diverse projects will not only contribute to the overall economic development of the country but also open the doors to new job opportunities for Egyptians.

Do you plan on buying a new home for your family or looking for an investment opportunity? Don’t hesitate to contact Nawy through WhatsApp and one of our consultants will get in touch with you in no time

Hassan Ashraf

A creative writer who believes that there is a huge difference between good and great content, do you believe in that too?