Egypt Targets $7 Billion from Land Sales to Expatriates Over Four Years
The Egyptian government aims to raise up to $7 billion over the next four years through the sale of more than 18,000 new residential land plots to Egyptians living abroad, as part of the tenth and supplementary phases of the “Beit El Watan” (Homeland) project, according to a senior government official.
The official explained that revenue collection will take place in stages — starting with down payments currently being received, followed by annual installments. The first installment will be due in 2026, while the final payments are expected by 2029, based on payment schedules set for buyers. The newly offered plots are spread across approximately 18 residential cities nationwide.
Since its launch in 2012, the “Beit El Watan” project has generated around $10 billion in proceeds from the sale of roughly 25,000 plots across nine main and supplementary phases. The initiative is designed to encourage Egyptians abroad to invest in real estate back home, while also creating a non-traditional source of foreign currency for the state.
Under the program, applicants must provide proof of permanent residence abroad and pay the full value of the land in U.S. dollars from outside Egypt, in line with the government’s broader strategy to attract hard currency inflows and support economic stability.
Foreign Currency Recovery
Egypt had faced a severe shortage of foreign currency for nearly two years, which led to shipping delays at ports and restrictions on dollar allocations by banks. However, the crisis began to ease following the March 2024 currency float, which restored market confidence and opened the door for renewed inflows of foreign investment and remittances.
Record-High Remittances
Remittances from Egyptians working abroad reached a record $36.5 billion during the 2024–2025 fiscal year ending in June — the highest level on record, according to data from the Central Bank of Egypt. This marked a 66% increase from the previous two fiscal years, each of which saw about $22 billion in transfers, signaling a strong rebound after a period of decline.
With rising remittance inflows and new initiatives like “Beit El Watan,” Egypt continues to rely on its expatriate community as a cornerstone of its strategy to boost foreign currency reserves and advance financial stability as part of Egypt Vision 2030.