Ownership Of Real Estate In Egypt For Foreigners

The Egyptian state strives to develop the real estate market in all possible ways. Therefore, it has set some adjustments to the laws of Ownership Of Real Estate In Egypt For Foreigners in order to facilitate the opportunity for foreign investors to own or invest in the real estate market inside Egypt, making it a main destination for many foreigners.

Advantages of investing in Egypt

Many foreign citizens aim to enter the real estate market in Egypt with the aim of owning a property in Egypt or to invest in the Egyptian real estate market, due to several advantages and benefits accruing to the buyer, which are:

• The growth of real estate prices in Egypt by more than 40% annually.
• Profits from renting real estate in Egypt amount to 20% of the total property value.
• The inexpensive cost of living in Egypt in comparison to other nations is what attracts many foreigners to
  permanent residency in Egypt.
• Investing in real estate is one of the best ways to preserve and increase the value of money without any losses.
• The climate in Egypt is considered moderate and nice throughout the year.

What is meant by real estate?

There are all buildings, apartments, and condominiums in addition to lands, shops, even if they are not submissive to the provisions of Law No. 113 of 1939, or Law No. 56 of 1954.

What is meant by real estate ownership?

It is intended to allow foreigners to own property inside Egypt and is divided into 3 types: outright ownership, neck ownership, and usufruct.

What is meant by a moral person?

It is composed of numerous laws that explain the requirements that must be satisfied in order to allow foreigners to own real estate in Egypt in order to secure the rights of all parties involved in the contracts in accordance with Egyptian law.

Law of Foreign Real Estate Ownership In Egypt

Real-Estate-Ownership-Laws-for-foreigners-pdf

Important subjects of the Foreign Ownership Laws Of Real Estate In Egypt

The Egyptian government has been keen to set controls that allow foreigners to own real estate and lands inside Egypt. The most important subjects of the Law No. 230 of 1996 on the requirements of Foreign Ownership in Egypt are as follows:

Ownership Of Real Estate In Egypt For Foreigners according to Subject 2

• A non-Egyptian citizen must not own more than two properties for the purpose of housing for himself or his family.
• The area of a single real estate should not exceed 4,000 square meters.
• Antiquity real estate must not be owned in accordance with the Antiquities Protection Law.
• The Prime Minister has the right to make an exception from the two conditions mentioned in Clauses (1, 2) of
  this Article.

Subject (3) of the Law for foreign ownership In Egypt

• The ownership of the real estate and lands is not subject to the conditions stipulated in this law if the ownership of real estate belongs to a foreign government that takes it as the headquarters of its consulate, diplomatic missions,
  or annexes, or as the residence of the members of the mission.
• A foreigner who owns a land must build on it within a period of time not exceeding 5 years.

Law of Ownership for Foreigners in Egypt according to Subject (4)

• The non-Egyptian owner of the land must start building on it within a period not exceeding five years after the month of disposal.
• If the period expires without starting construction work, the period of prohibition of disposing of the real estate will be increased for a period equal to the period of delay in starting construction.

Subject (5) of the Law for foreign ownership In Egypt

• It is illegal for a non-Egyptian who owns property in accordance with the requirements of this law to dispose of it in any manner that transfers ownership before five years have passed from the date of acquisition of ownership.
• However, in exceptional cases, the Prime Minister can dispose of the real estate before the expiration of this period.

Ownership Law in border areas for Foreigners

• Ownership by non-Egyptians is prohibited in some places in Egypt, especially the border areas, such as
  the North and South Sinai.
• A law was passed in 2005 that excluded the city of Sharm el-Sheikh from the previous rules.
• A non-Egyptian has the right to usufruct for a period of 99 years, not freehold.

The most prominent investment areas in Egypt for foreigners

There are several investment areas in which foreigners can safely invest that have piqued the interest of most investors, including the following:

The New Administrative Capital

• It is a huge national project that extends over an area of 170,000 acres.
• It is expected to accommodate a population of more than 40 million people during the year 2040.
• The Administrative Capital is located on the borders of Badr City on the Cairo-Suez Road and Cairo-Ain Sokhna Road.
• It includes many distinct residential compounds that can be invested in, most notably IL Bosco New Capital Compound and Al Maqsad Compound in the Third District.

New Cairo City

• The city is considered the perfect place for real estate investment in Egypt, due to its strategic location.
• As it is located in the east of Cairo between the Cairo-Suez Desert Road and the Katameya-Ain Sokhna Road.
• Among the most prominent compounds in New Cairo that can be invested in are Palm Hills New Cairo located in
  the heart of the Fifth Settlement, and the Sila Compound in New Cairo.

New Alamein City

• It is one of the most prominent new national coastal cities in Egypt.
• The city extends over an area of 49,000d acres, and targets a population capacity of about 2 million people.
• New Alamein City located on the western coast of the Mediterranean Sea.
• Among the most famous projects in which foreigners can invest, including Mazarine New Alamein Compound, Zahra North Coast Village, and Palm Hills New Alamein.

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