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.