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Egypt Targets $2 Billion Income From Selling Land to Expatriates

Egypt expects to receive $2 billion from selling 8,000 plots of land in the capital’s outskirts to citizens abroad, Housing Minister Mohamed Fathi ElBaradei said today.

The offer includes 400 plots in Sheikh Zayed City, each with an area of 800 square metres at a cost of $675 per square metre and 4,000 plots of 400 square metres each in Badr City at $250 per square metre, elBaradei said.

Overseas buyers can start registering for the plots at the start of next week, elBaradei told reporters in Cairo.

To contact the reporter on this story: Abdel Latif Wahba in Cairo at alatifwahba@bloomberg.net Dahlia Kholaif in Kuwait at dkholaif@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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