CAIRO, Egypt is preparing to offer 50 investment land plots across new cities from November 1, targeting potential proceeds exceeding $306 million as it seeks to attract overseas capital and strengthen foreign-currency inflows. According to Al Mal, the offering requires payment in US dollars transferred from abroad and covers commercial, administrative, residential, hospitality and mixed-use developments.
Housing Minister Randa El-Menshawy confirmed the November opening through the New Urban Communities Authority (NUCA), although the government has not independently confirmed the reported $306.29 million valuation or final number of plots.
The offering spans some of Egypt’s most commercially significant urban centres. New Cairo and Sheikh Zayed offer opportunities in higher-value commercial and mixed-use development, while New Alamein presents potential for hotels and tourism-related investment. The industrial concentration around 10th of Ramadan could support warehouses, distribution facilities and business services, subject to individual land-use approvals.
Other reported locations include 6th of October, El Shorouk, Obour, New Obour, New Damietta and New Borg El Arab.
Indicative land prices reflect substantial differences in location and commercial potential. Published estimates range from EGP30,000 to EGP105,000 per square metre in New Cairo, compared with EGP6,000–43,000 in 10th of Ramadan and EGP8,000–25,000 in New Alamein. Final valuations and permitted activities remain subject to official plot specifications.
Companies must apply through NUCA’s electronic investment platform, using designated corporate electronic wallets. Under the announced procedures, qualifying overseas SWIFT transfers and account approvals must be completed by October 31 ahead of the November application period.
The foreign-currency requirement makes the offering more than a conventional property sale. For Egypt, successful allocations could provide dollar inflows while stimulating construction, infrastructure investment and demand for commercial services. For developers, returns will depend on acquisition costs, financing conditions, infrastructure readiness and project execution.
The initiative follows earlier dollar-denominated land allocations, including 43 requests approved by NUCA in October, reflecting continued government efforts to attract foreign-funded development.
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