In a collaborative effort, Egypt’s Ministers of Housing and Foreign Affairs have unveiled a new initiative aimed at providing suitable apartments and villas for Egyptian expatriates. The initiative seeks to address the specific needs of Egyptians working abroad, strengthen their ties to their homeland, and attract investments in the real estate sector.
Minister of Housing, Engineer Sherif El-Sherbiny, announced the launch of the “Your Home in Egypt” initiative, targeting the construction of 5,000 residential units and villas. The project includes 4,200 apartments in key cities such as New Alamein, the New Administrative Capital, New Mansoura, 6th of October, and Sheikh Zayed. Additionally, 800 units will be offered in developments like Madinaty in New Cairo and Salam City.
Key Details of the Housing Units:
- New Alamein: 250 apartments in the new towers (200 sqm each) priced at $3,750 per square meter, and 250 units in the Latin Quarter at $1,045 per square meter.
- New Administrative Capital: 1,050 units in the Third District at $425 per square meter, and 1,000 units in the Fifth District at $750 per square meter.
- New Mansoura: 250 standalone and semi-detached villas.
- 6th of October City: 500 units in the “Saba” area priced at $375 per square meter.
- Sheikh Zayed: 200 apartments priced at $1,145 per square meter.
Additional properties will be offered in tourist villages, Fustat, Madinaty, and other prominent locations.
Eligibility Criteria:
- Applicants must be Egyptian citizens.
- They should hold a bank account in their country of residence abroad for at least six months.
- Each applicant can reserve up to two units.
An online platform will be launched for reservations, enabling users to select their desired unit on a first-come, first-served basis. The registration window will remain open for one month after finalizing the procedures.
This initiative reflects Egypt’s commitment to engaging its expatriate community and encouraging their investment in the country’s thriving real estate market.
