The Ministry of Housing has reported an overwhelming response to the "Your Home in Egypt" initiative, with $2.5 million collected in reservation deposits within 48 hours of opening online bookings for its first phase.

The initiative, designed to provide Egyptians abroad with an opportunity to purchase residential units, was first introduced in December 2024.

According to Housing Minister Sherif El-Sherbiny, the highest demand has come from expatriates in Saudi Arabia, the UAE, and Bahrain.

The government aims to generate $500 million in revenue from the sale of 5,000 residential units through this initiative, which is part of its broader strategy to generate $2 billion in revenue from its new real estate export platform this year.

El-Sherbiny emphasized the strong turnout during a press conference held on Sunday, highlighting the initiative's success in its early stages.

The "Your Home in Egypt" initiative offers residential units at 3-10% lower than market prices and provides flexible payment plans that extend up to 10 years.

The project spans across 12 developments in key locations such as the New Administrative Capital, New Alamein, New Mansoura, 6th of October City, Sheikh Zayed, and New Cairo. In order to participate, applicants are required to make payments in USD and must hold a foreign bank account that has been active for at least six months.

To streamline the payment process, Banque Misr, the New Urban Communities Authority, and eFinance have signed a protocol to facilitate the collection of payments and reservations for the initiative.

Buyers will be able to reserve, contract, and pay for their units via a dedicated website developed in collaboration with Banque Misr, the exclusive banking partner for the initiative. Payments will be accepted in USD through international bank cards, exchange offices, and SWIFT transfers.