On September 14, 2023, the Council of Ministers of Egypt approved a draft decision introducing changes to the Law on Granting Egyptian Citizenship to foreigners. Including a clause that removes restrictions on selecting real estate for citizenship applications. Now you can choose projects from any developer, with one exception – the location should not be on Sinai Peninsula. Thus, buying any real estate in the El Gouna will allow you to apply for Egyptian citizenship by investments.
What are the options for Egyptian CIP?
One of the newest programs on the market, Egyptian Citizenship by Investment, offers many options to choose from. Including the purchase of real estate in the amount of $300,000 (USD). Real estate can be purchased as full ownership or as a share. Thus, when buying a townhouse for $900,000, you can submit several applications for Egyptian citizenship at once. For example, an investor and a spouse with a child, as well as his parents and her parents. Please note that the main applicant must be male to be able to add a spouse to the application.
How to apply?
As a first step for obtaining Egyptian Citizenship by investment, you need to pay a fixed government fee of $10,000 (USD). Already in the process, you can decide which investment option to choose. The starting fee does not depend on the number of family members in the application. At the moment, applications for citizenship are accepted from candidates from all countries without restrictions.
What does premium real estate in Egypt look like now?
At the moment, the demand for real estate in the Egyptian domestic market exceeds supply. Nevertheless, we took a deep dive into the local market and offer you a unique investment option. A luxury project on the Red Sea coast from a well-known developer.
El Gouna
This is a gated coastal city a few hours’ drive from Luxor, Cairo or Aswan. Just 25 km from Hurghada, 25 minutes to the international airport. So, El Gouna is designed in the style of Italian Venice – many islands and balconies. The project was awarded the “Global Green City” award, established by the UN as part of the environmental protection program. El Gouna has already been built and exists as a living space. Here guests can stay in hotels under famous brands.
El Gouna’s famous hotels and infrastructure
Right on the coastline is the Movenpick Resort Spa El Gouna, next to the famous Movenpick fish restaurant. And also, a Sheraton hotel and a golf resort from Steigenberger have already opened here. Almost all El Gouna beaches have shallows, and the two most popular are located on the hotel islands Zeytouna Beach and Mangroovy Beach. The sun shines here all year round and the average temperature is +27C.
In addition to the beautiful panoramic views, the construction of tall buildings is prohibited here, El Gouna is famous for its infrastructure. The project even has its own radio station and hospital. The center of El Gouna is the island of El Kafr, where you can find many shopping centers, restaurants and bars. There is even a historical museum with an observatory and a health center.
- 12 km coastline
- 4 world-class marinas with berths for 400 yachts – easy access to the Red Sea islands.
- 5 schools, including an international one, as well as a university.
- 2 golf courses based on the natural landscape, where you can play all year round.
- The best conditions for kitesurfing – world champions train here.
- Egypt’s first rope park.
- Diving center. Not far from El Gouna there are diving sites with the largest shipwrecks in the Red Sea.
- Domestic airport for the jets (flights to Cairo and Luxor).
Examples of new private residential properties that can be purchased now in El Gouna, Egypt
Townhouse with 3 bedrooms, two floors, double height ceilings, roof with seating area, view of the communal pool. Total area 149 m2.
Cost – $471,643 USD.
Two-story villa with 3 bedrooms, 2.5 bathrooms, large windows overlooking the lake, several roof terraces. Total area 162.7 m2.
Cost – $955,275 USD.
Two-storey villa near Abu Tig Marina. Layout: 3 bedrooms, nanny room, 4 bathrooms, spacious garden and roof terrace. Total area – 138 m2. View of the golf course and lake. The villa is delivered turnkey; the owners choose from two furnishing options. Access to private parking.
Cost – $576,221 USD.
Private houses with swimming pools. The villas are located at a distance of 12 meters from each other. View of the legendary 18-hole golf course designed by Carl Litten. For example, a one-story villa with 3 bedrooms, a room for a nanny, and a total of 5 bathrooms. High ceilings, glass entrance doors, decorative ponds on the site. Total area 175 m2.
Cost – $639,537 USD.
