Government to offer Egyptian expats luxurious residential units

CAIRO – 1 November 2022: Sources told Al Watan newspaper that the Ministry of Housing, Utilities, and Urban Communities will soon offer a number of luxurious residential units to Egyptian expats, within 'Bait Al Watan' projects.

The range of surface areas of flats is between 90 and 150 square meters, and they can be up to 300 square meters for villas. The units are distributed among New Cairo, Shorouk, Badr, Obour, Al Sadat, New Damietta, Sheikh Zayed, New Alexandria, and 6th of October.

The number of those is 3,438 flats and villas, in addition to 4,058 land plots, and 8,991 tombs.  

The ministry revealed in April that the second phase of the Premium Housing Neighborhood, consisting of 840 units, would be offered to Egyptian expats in competitive prices, if they pay in foreign currencies.

As for middle-class units offered to expats in the same city, 4,096 of those – divided upon 128 buildings – are being built in a residential-compound named "Sakan Misr."

President Abdel Fattah El-Sisi has ratified a law exempting Egyptian expats from paying customs duties and taxes when importing personal-use cars in exchange for deposit.

Earlier this month, the Parliament approved the draft law, which allows expats to import a personal-use car for each in return for paying a cash amount in hard currency, to be recovered after 5 years.

The move aims at strengthening the country's dollar resources.