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Investment in the real estate sector in Egypt is taken as a safe haven for investors with the forever increasing demand for commercial and residential real estate projects due to the gap of supply for a growing population of more than 100 million people. The forecasted total household spending in Egypt to reach USD209bn in 2024, up from USD145bn in 2020. With the current resilient positive economic growth rate of 3.6% in fiscal year 2020/21 despite the pandemic, all with the government's plans and development efforts to leverage the real estate market and infrastructure in new cities that made Egypt one of the booming and outperforming real estate markets in the region
With the government’s ambitious diversified construction plan for 20 new cities with another 23 cities under development, There are countless opportunities for investment in residential & commercial properties, starting with the New Administrative Capital to the north coast new cities like Alamin City and other coastal mega projects, to Galalah City in Ain Sokhna, and projects in Delta like New Mansoura & Damietta, to new cities in Fayoum & Upper Egypt.
All these projects are packed with gigantic development plans for roads & transportation infrastructure like the new monorail connecting the New Capital with Cairo, the provincial ring road.
To put Egypt among the top global investment hubs, the government’s adjusted the foreign real estate ownership policies that guarantees fair treatment for both foreign & local investors, adding the currency flotation. Also giving the right to repatriate profits or receive international finance without restrictions and a residence permit to foreigners for the duration of investment projects and the taxation policies all helped making Egypt more attractive for expats to invest in Egyptian real estate market.
A lot of foreign investors are realizing the unparalleled opportunities in Egypt, China Fortune Land Development Company plans to invest USD20bn financing the business district in the New Capital, other chinese banks are financing the development of 20 skyscrapers. Also USD10bn invested by the Saudi Public Investment Fund and USD44bn by private companies, totalling USD54bn in Egyptian real estate market.