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The scheme aims to initiate a real estate export program and promote residential units among foreign and Egyptian expatriate investors
The Egyptian government plans to launch an initiative for real estate export offering rental and ownership of residential units in foreign currency to both foreign and Egyptian expatriate investors. The government has issued a public document for consultations among stakeholders before implementation. The scheme aims to initiate a real estate export program and promote residential units among foreign and Egyptian expatriate investors.
The government proposes to establish a specialized company to manage real estate export and leasing activities in Egypt, with expected revenues ranging from US$2 to 3 billion. Foreign investors benefiting from this real estate export initiative in hard currency in Egypt will be granted a five-year residency (Green card).
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The Real Estate Development Chamber of the Egyptian Industries Federation explained that the initiative is not available to everyone but exclusively for Egyptians abroad and foreigners.
The Chamber’s President, Tarek Shoukry, stated that the initiative requires the payment of the property value in dollars upfront, not in installments. Additionally, the buyer will recover the full unit value after 10 years of purchase, serving as a strong incentive for potential customers.
