The Ministry of Housing, Utilities. and Urban Communities plans to offer residential units and land plots for Egyptians abroad with the fees to be paid in US dollars, said Minister of Housing Mostafa Madbouly, reported Invest Gate.
“The ministry is currently coordinating with the Governor of the Central Bank to resolve the dollar crisis, especially after the increasing problems with applicants,” said Madbouly.
“There are two dollar exhchange rates; the official one declared by the bank and the black market one. Complaints were sent to the ministry regarding the discrepancy in dollar values in the market.” Madbouly added.
The ministry will investigate the current situation and will wait until the dollar crisis is resolved in Egypt before offering more products to Egyptian expatriates.