Invest in the Future: Golden Opportunities for Acquiring Urban and Service Lands in New Cities

In a significant move to enhance the investment environment, Prime Minister Mustafa Madbouly met with Minister of Housing and Utilities Sherif El-Shorbiny to review mechanisms for land allocation in new cities. These efforts are part of a broader strategy to support urban and service projects that contribute to national economic development.

In a significant move to enhance the investment environment, Prime Minister Mustafa Madbouly met with Minister of Housing and Utilities Sherif El-Shorbiny to review mechanisms for land allocation in new cities. These efforts are part of a broader strategy to support urban and service projects that contribute to national economic development.

The new mechanisms include offering lands for urban and service activities, providing unique investment opportunities for a variety of projects. Investment opportunities in new cities will be announced in Egyptian pounds on the Investors Services Portal from the 1st to the 15th of each month. Companies must submit their applications along with required documents online, where all requests will be electronically forwarded to the relevant committees at the New Urban Communities Authority for technical, financial, and legal review.

Foreign companies also have the opportunity to apply for land through the investment portal, with applications accepted from the 1st to the 7th of each month, and electronic evaluation based on meter prices. These steps aim to streamline processes and enhance the investor experience.

Among the significant developments is the launch of the "Invest in Egypt" portal in both Arabic and English, allowing foreign investors to apply around the clock. This portal provides detailed information on application procedures, facilitating entry into the market for new investors.

The new allocation mechanisms also offer a receivable discount system alongside cash and in-kind sale options, providing additional flexibility for investors and enhancing their capacity to make informed investment decisions. Through these initiatives, the Egyptian government seeks to support urban and service projects, opening new avenues for investors to realize their ambitions in a competitive business environment. Notably, the available lands south of the International Coastal Road span a total area of 707,234.5 acres, representing an ideal opportunity for developers and investors.

These steps position Egypt as an attractive investment destination, offering real opportunities for investors to enter a promising market that is continuously evolving.

Source: Cabinet of Ministers, Egypt

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