Egypt Launches First-Come, First-Served System for Foreign Investment Land

Companies seeking to secure land in Egypt’s new cities can now bypass traditional bidding processes by paying the full value of plots in U.S. dollars transferred from abroad. The Ministry of Housing announced the new mechanism, designed to streamline land allocation for local and foreign investors.

Streamlining Investment Through Digital Portals

The system, which debuts with the November offering, operates through the New Urban Communities Authority’s (NUCA) electronic foreign investment portal. Investors must register online and initiate a transfer via the SWIFT system. The process requires a minimum transfer of $100,000, alongside a $5,500 payment that covers a $5,000 credit to an electronic wallet and a $500 non-refundable application fee.

According to Deputy Housing Minister Waleed Abbas, once an eligible company completes the required transfer, the investment opportunity is provisionally reserved. The authority then halts other reservation requests for that specific plot. Companies have one month to pay the land’s total value in U.S. dollars. Failure to meet this deadline results in the forfeiture of $100,000 and the cancellation of the reservation.

Dual-Track Allocation Strategy

Ahmed Emara, supervisor of NUCA’s Real Estate and Commercial Affairs Sector, clarified that the existing instalment-based system remains active. Under the legacy model, companies compete through price-based bids, with the highest bidder securing the land. The new first-come, first-served track allows applicants to opt out of this competition if they commit to full payment in foreign currency.

Priority is granted to the first applicant who fulfills all financial obligations. However, officials noted that electronic reservation is not a final allocation; the process concludes only after all requirements are verified. This dual-track approach aims to provide flexibility for investors while maintaining existing competitive avenues for those preferring instalment plans.