Egypt's Cabinet has approved a new policy to allocate land plots priced in US dollars for both foreign investors and Egyptians abroad, aiming to attract hard currency and strengthen the country's investment climate. The initiative is part of a broader government strategy to increase dollar-based investments and bolster foreign exchange reserves, with a particular focus on the real estate sector — one of Egypt's most robust and fast-growing industries. According to a Cabinet statement, the New Urban Communities Authority (NUCA) has greenlit multiple requests for land purchases in foreign currency. The approved allocations span a range of project types — including urban, commercial, administrative, and tourism developments — across several new cities, such as New Cairo, Sheikh Zayed, New Mansoura, 10th of Ramadan, New Minya, and Sadat City. The policy primarily targets investors with access to foreign currency, especially Egyptians living abroad, encouraging them to invest in Egypt's real estate and development markets while supporting the national economy through fresh inflows of hard currency. Officials highlighted that the move aligns with Egypt's wider economic reform agenda, which aims to diversify sources of foreign exchange and enhance private sector involvement in development. The real estate sector has been identified as a key engine for economic growth due to its capacity to attract long-term capital, generate employment, and stimulate a wide range of ancillary industries. In parallel, the initiative supports Egypt's ongoing urban expansion plan, which involves developing new cities and integrated communities to ease overcrowding in existing urban centers, improve infrastructure, and promote balanced regional development. The decision to price land in US dollars reflects the government's increasing reliance on alternative financing mechanisms amid global economic headwinds. It also builds on earlier measures that allowed real estate transactions and other investments to be conducted in foreign currency — steps designed to stabilize the exchange market and reinforce investor confidence. Overall, the policy underscores Egypt's commitment to fostering a competitive investment environment and positioning itself as a regional hub for real estate and urban development. By offering new incentives for investors, the country aims to drive forward its next phase of economic and urban transformation.
