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Egypt approves land sales in dollars to boost foreign investment

Businessmen Team news 16 July 2025 04:59 PM
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Egypt approves land sales in dollars to boost foreign investment

Egypt's cabinet has approved the allocation of land plots in 11 new cities to various companies, with sales to be conducted in US dollars from outside the country. This decision follows the approval of the New Urban Communities Authority (NUCA).

During its meeting on Wednesday, chaired by Prime Minister Moustafa Madbouly, the cabinet was informed of NUCA's board approval on May 14, 2025, for several requests regarding land allocation under the system of sale in US dollars from abroad.

The allocated land plots are located in the new cities of New Nasser, New Cairo, New Beni Suef, New Borg El Arab, New Mansoura, Hadayek October, Badr, New Damietta, 15th of May City, Sheikh Zayed, and 10th of Ramadan City.

These lands are earmarked for a diverse range of activities, including commercial, administrative, residential, mixed-use urban, cultural, recreational, hotel, medical, and industrial projects, as well as car showrooms, service and maintenance centers, and workshops.