TLD-The Land Developers, a leading company in real estate development, has announced the signing of a strategic partnership with Prime Properties, a prominent company specializing in real estate investment consulting, including citizenship by investment programs, Invest-Gate reports.

This partnership aims to open new avenues for real estate investment in Egypt, attract foreign investors worldwide to own properties in TLD’s projects, and enhance Egypt’s position as a premier investment destination.

Through this partnership, Prime Properties will assist foreign investors in benefiting from the Egyptian citizenship program through real estate investments. This program enables investors to obtain Egyptian citizenship and a passport by investing $300,000 or more in one or more properties in TLD’s flagship projects, including the il Bayou project and the Armonia project in the New Administrative Capital (NAC). It is noteworthy that the percentage of foreign ownership in TLD projects has reached 35%.

This strategic agreement aligns with the provisions of Amended Law No. 140 of 2019, which grants Egyptian citizenship to foreigners. The law allows foreigners to apply for Egyptian citizenship in exchange for investments in Egypt, contributing to the country’s economy.

The Naturalization Applications Examination Unit requires that the property be built or under construction, and its value be paid within a year at most. Citizenship is only granted upon full payment of the property’s price. During this period, the naturalization applicant is granted temporary residency.

The law prohibits the sale of real estate by a citizenship applicant before five years, but they can invest in it by renting or residing. Prime Properties acts as an agent for the main applicant, representing them before the official authorities to obtain citizenship within a maximum of 12 months.

Mr. Omar El Tayebi, CEO of TLD-The Land Developers, commented on this partnership, stating, “Egypt is an attractive tourist and investment destination, with increasing desire day by day. At TLD, we are dedicated to meeting this growing demand within our projects. We are confident that our partnership with Prime Properties will enhance our ambitious plan to increase the percentage of foreign ownership in TLD projects, aligning with the Egyptian state’s strategy to develop the sector, export real estate, and advance the industry. This will, in turn, attract more foreign investments and investors to the Egyptian market.”

El Tayebi added, “At TLD, we are committed to environmental considerations and sustainability standards to ensure the highest investment returns for our clients. This commitment is reflected in the percentage of foreign ownership in our projects, particularly in il Bayou in Sahl Hasheesh in the Red Sea. Many units have already been sold to foreign clients, including Europeans and dual Egyptians. We plan to further increase these percentages in partnership with Prime Properties.”