Egypt Opens New-City Land Offering to Foreign Companies From 1 November: What It Means for Buyers

Masari Team

In short: Egypt's Ministry of Housing says foreign companies can apply for investment land in several new cities starting 1 November 2026. Applications go through the New Urban Communities Authority (NUCA) foreign investment website, and payment is made from dedicated company e-wallets. The offering targets companies, not individuals, and it will not move apartment prices overnight. It is still worth watching if you plan to buy in the new cities, including New Damietta.

What happened

According to Masrawy and Al Mal News on 20 October 2026, Housing Minister Randa El-Menshawy announced that applications from foreign companies for investment opportunities in the new cities open on 1 November. Deputy Minister Walid Abbas and Ahmed Emara, who supervises NUCA's real estate and commercial affairs sector, explained the process.

The process is fully online. A company visits NUCA's foreign investment site, reviews the notice and terms, prepares its payment e-wallet before the start date, then applies and pays from that wallet. Masrawy published a step-by-step explainer on 21 October, and companies were told to fund their wallets in advance.

The figures being reported

In a separate report on 21 October, Al Mal said the ministry is preparing to offer about 50 plots in 10 new cities to companies, with payment in US dollars transferred from abroad and expected proceeds that could exceed USD 306 million. Other outlets published different plot counts and totals, and some circulated city lists that include New Damietta.

Masari note: at the time of publishing we found no official list of cities, plots or permitted uses. Treat circulating lists with caution; the official terms on NUCA's portal are the reference.

Still unconfirmed

  • The final number of plots, the cities and plot sizes.
  • Permitted uses for each plot.
  • Detailed payment terms and development timelines.
  • The closing date for applications.

What this means for buyers in New Damietta

  1. No immediate effect on your apartment price. This is land for companies. Any projects built on it need years of planning, permits and construction. Do not rush or delay a purchase because of this headline alone.
  2. Watch out for sales hype. Claims that prices will "explode" once foreign investors arrive are not backed by any official information.
  3. If New Damietta is confirmed, check the land use. A commercial or hotel plot near a unit can mean more services later, but also more traffic. Ask the city authority about planned uses around any unit you consider.
  4. Foreign developers need the same checks. If units from a foreign developer reach the market later, verify land title or allocation, permits, delivery timeline and contract terms as you would with anyone else.
  5. Egyptians abroad: this offering is for companies, so do not confuse it with housing schemes aimed at individual expatriates.

Quick follow-up checklist

  • Check NUCA's foreign investment portal after 1 November for the official list.
  • See whether New Damietta is included and which uses are offered there.
  • Ignore social media lists of cities or prices.
  • Keep comparing units on fixed criteria: location, finishing, payment plan and permit status.

FAQ

Can individuals apply?

Coverage describes the offering as aimed at foreign companies paying through company e-wallets, with no mention of individuals.

Is New Damietta included?

Some outlets listed it, but we found no official confirmation at the time of publishing. Wait for the official terms.

Will apartment prices rise because of this?

Nobody can say for certain. Prices depend on many factors, and projects on this land will take time. Be wary of any promise of guaranteed gains.

When do applications open?

The ministry says from 1 November 2026, via NUCA's foreign investment website.

Sources