Egypt launches 1st phase of premium housing units for expats
Updated 1/21/2025 2:53:00 PM
Arab Finance: The Ministry of Housing, Utilities, and Urban Communities has launched the first phase of premium residential units across 13 projects in various cities, according to an emailed press release.
The launch aligns with the government’s strategy to enhance investment opportunities for Egyptian expatriates.
Minister of Housing Sherif Shurbini highlighted that the development scheme offers luxury residential alternatives, with 5,055 units over 13 projects in nine locations.
Meanwhile, the first phase of housing units will begin in February 2025.
Through its affiliated bodies, including the New Urban Communities Authority, the ministry finalized an agreement with Banque Misr to implement remote electronic payment methods that secure financial transactions.
Shurbini indicated that payment for the housing units and booking deposits can be made in US dollars for all Egyptians abroad.
The ministry is currently working with the New Urban Communities Authority to establish a high-tech, interactive website that will enable Egyptians abroad to explore projects, view available units, and take a virtual tour before making a purchasing decision.
The website will be launched in preparation for the opening of units for reservation and allocation starting on February 15th, 2025.
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