The system provides each registered company with a dedicated electronic wallet and code to receive its bank transfers through the SWIFT system.
Egypt’s Ministry of Housing and New Urban Communities began activating an electronic wallet system on Thursday for companies registered on the New Urban Communities Authority’s foreign investment portal, under the authority’s Board Decision No. 217 of 2026.
The system provides each registered company with a dedicated electronic wallet and code to receive its bank transfers through the SWIFT system, aiming to streamline the processing and approval of foreign investment funds.
Housing Minister Randa El-Menshawy said the dedicated wallets would facilitate the transfer and approval of companies’ funds and improve the efficiency of the authority’s foreign investment system.
The system is also designed to ensure that transferred funds are directed through the designated channel, reducing the risk of delays or issues when payments are approved.
Waleed Abbas, Deputy Minister of Housing for New Urban Communities, said companies must transfer SWIFT payments using their dedicated electronic wallet codes rather than land reservation codes.
The authority began receiving transfers through the electronic wallets on September 17, 2026. Companies have until October 31 to fund their wallets and have SWIFT transfers approved for use in the next land offering.
SWIFT transfers made after October 31 will remain eligible for use in subsequent offerings.
Ahmed Emara, supervisor of the New Urban Communities Authority’s Real Estate and Commercial Affairs Sector, said electronic wallet balances will be available for use in offerings starting with the November 2026 offering.
The authority urged all companies registered on the foreign investment portal to review their electronic wallet codes and comply with the funding procedures and approval deadlines to ensure their balances are ready for the November offering.
Key deadlines:
- September 17, 2026: Electronic wallets begin receiving SWIFT transfers.
- October 31, 2026: Deadline for funding wallets and approving SWIFT transfers for use in the next offering.
- November 2026: Electronic wallet balances become available for use in offerings.
