The Clap
The Urban Communities Authority in Egypt announced it’ll be offering land to foreign investors, with the requirement that the value of the land be paid in full in US dollars and transferred from outside of the country.
What
The Vice President of the authority stated that cities in Upper Egypt are among the most favorite places for foreign investors to purchase land.
So what
This decision has been made as a way for the state to obtain more dollars & address the current foreign currency shortage.
Now what
Priority for purchasing land will be given to those who can pay in dollars rather than through reservation.
