Egypt temporarily halts expats land allocation in foreign currency

By Aya El Sayed On Jun 2, 2024

Egypt's Minister of Housing Assem El-Gazzar. Credit: the Egyptian Cabinet.

Egypt’s New Urban Communities Authority (NUCA) has put land allocations in foreign currency for Egyptian expatriates on temporary halt as of June 2024, Minister of Housing, Utilities, and Urban Communities Assem El-Gazzar announced.

This pause, which excludes foreign investors and firms, allows for evaluation of the situation to ensure alignment with central bank policies.

NUCA will also suspend priority given to dollar payments for land allocations on its website.