Egypt will remove restrictions on foreign ownership of real estate. This was announced by Prime Minister Mostafa Kamal Madbouly.

At the moment, foreigners can own no more than two properties in Egypt, and both of them must be in different cities. But the Egyptian authorities are going to lift these restrictions, as they believe that investment will help reduce inflation and ease the pressure on commodity prices.

Also, the Prime Minister said that the process of land registration for investors will be accelerated. Plus, the country will increase the share of the private sector; the goal is that in three years, the private sector will account for 60% to 65% of all investment.

Also recall that Egypt reduced in March the amount of investment required from foreigners to obtain Egyptian citizenship. Read more about the changes here.