Egypt sold $2 bln of land in 6 months: Minister

The land was sold to investors in the cities of the 10th of Ramadan, New Obour, the 6th of October, and New Cairo, explained El-Gazzar.

These sales came as part of the government's efforts to secure hard currency to close an estimated $17 billion financing gap through 2026.

Earlier in July, the Cabinet issued a decree allowing foreigners to buy real estate properties without restrictions but requiring them to pay in hard currency.

In May, the New Urban Communities Authority authorized a range of benefits and incentives for investment projects in new cities, particularly with regard to land utilization.