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Egypt

Cairo / New Capital · EGP

Corpus dated July 2026

For landowners

In Egypt the developer's brand and payment record matter more than anywhere — there is no escrow law protecting instalments. A revenue-share with milestone payments and strong penalties is your safest frame.

For developers

Underwrite in USD with FX contingency; expect registration gaps in title diligence. Coverage/floor-cap regime (not FAR); ~36m Cairo cap outside new cities. 2.5% disposal tax, no escrow regime.

Build cost (USD/m²)

$350–650

Sale prices (USD/m²) · Mid-market

$500–1,100

Sale prices (USD/m²) · Prime

$1,300–2,500

Typical owner share

20–30%

of revenues

Title system: Notarial deeds via Shahr Aqari; personal deeds registry dominant, real-folio limited; large unregistered stock — 'signature validity' suits common.
Foreign ownership: Law 230/1996: max two residential units, ≤4,000 m², ~5-yr resale lock (waivable); Sinai freehold barred; liberalising amendment drafted 2025 (pending).
Authorities: Real Estate Publicity Dept (Ministry of Justice) + NUCA/ACUD for new cities + governorate authorities.
Zoning metric: Plot coverage % + floor caps per NUCA conditions (~22.5–50% footprint, G+7 typical); Cairo 1.5×-street-width rule; no unified FAR term.
Height control: ~36m cap in Cairo proper (Law 119/2008); New Capital CBD towers per plot; military/aviation NOCs.
Building code: Unified Building Law 119/2008 + Egyptian Code series (ECP 201 loads, ECP 203 concrete); new building law in draft.
Approvals & timeline: Land allocation (NUCA auction/direct) → security/ministerial clearances → building licence; off-plan sales lightly regulated (no escrow law). (~6–18 months)
Transfer taxes & fees: 2.5% real-estate disposal tax (seller); registration fees flat/capped (Law 186/2020); developer corporate tax 22.5%.
Foreign capital: Residency at $50k–$200k tiers; citizenship ~$300k property (USD from abroad); Golden Licence for large projects.

Common JV structures

Joint Development Agreement — Area Share

30–50%

Owner grants development rights (JDA + limited power of attorney) but keeps title until handover. Developer builds entirely at own cost; the finished built-up area is split by an agreed ratio and each party sells or keeps its own units.

Joint Development Agreement — Revenue Share

20–40%

Same grant of development rights, but the owner takes a percentage of gross sales revenue instead of units. Developer controls pricing and sales; escrow and audit rights are standard protections.

Land-as-Equity SPV

20–50%

Owner conveys land into a new project company at an agreed value; that value becomes the owner's equity stake. Developer and investors contribute cash and expertise; profits distribute through a waterfall (capital back → preferred return → promote).

BOT / DBFOT Concession

2–15%

Mostly for public or institutional land: the developer designs, builds, finances and operates for 20–50 years, paying an upfront premium and/or revenue share, then transfers the asset back.

Risk flags

⚠ EGP devaluation / FX transfer risk
⚠ Weak title registration — diligence heavy
⚠ New Capital & coastal oversupply, stretched developer receivables

Price in USD with FX contingency; EGP volatility is the core variable.