President Abdel Fattah El-Sisi issued Republican Decree No. 303 of 2025, granting the Ministry of Finance rights to approximately 41,515.55 feddans (equivalent to 174,399,900 square meters) of state-owned land in Ras Shukeir.
Egypt’s Ministry of Finance confirmed that the recent decision to allocate a prime piece of land in the Ras Shukeir area of the Red Sea Governorate is part of a broader plan to issue sovereign sukuk and help reduce the country’s public debt.
President Abdel Fattah El-Sisi issued Republican Decree No. 303 of 2025, granting the Ministry of Finance rights to approximately 41,515.55 feddans (equivalent to 174,399,900 square meters) of state-owned land in Ras Shukeir.
In an official statement released on Thursday, the Ministry clarified that the decision does not involve selling the land. Instead, it will be used and developed—partly as collateral to back sovereign sukuk issuances—providing the state with accessible financing options to support the national budget under favorable conditions.
The Ministry emphasized that the ownership of the land remains with the Egyptian state, represented by the Ministry of Finance and select government entities with economic activities. No transfer of ownership to third parties will occur.
According to the decree, the land is to be utilized strictly for public debt reduction and the issuance of sovereign sukuk, in line with applicable laws and regulations.
It also stipulates that the Armed Forces retain ownership of any military zones within the allocated area, recognizing them as strategic sites of military significance.
The Ministry added that it plans to develop part of the land to generate optimal developmental returns for the state. This includes entering into partnerships and deals with public financial institutions and economic authorities. The aim is to replace certain outstanding budgetary debts owed to these entities with shared investments.
This initiative is expected to contribute to lowering public debt levels, reducing debt servicing burdens, and transforming the land into productive, service-oriented, tourism, and real estate projects—generating sustainable economic returns.
Finally, the Ministry underscored that this strategy is part of broader efforts to enhance public financial management, reduce national debt, stimulate economic activity, increase Egypt’s competitiveness, lower financing costs, and create additional fiscal space to support social protection programs and low-income groups.
