Alexandria has long attracted Egyptians seeking a high quality of life, but the city is also starting to appear on the radar of foreign investors and the diaspora. A Mediterranean metropolis of over 4.7 million inhabitants, a major industrial hub (nearly 40% of national industry), and the country’s largest port, it combines a deep rental market, sustained demand, and an infrastructure program rarely seen in decades.
Investing in Alexandria presents several challenges: a specific legal framework for foreigners, particular tax realities, risks related to land registration, significant heterogeneity between neighborhoods, as well as inflation and volatility of the local currency (the Egyptian pound).
1. Why Alexandria is increasingly attracting investors
With a population projected to grow from approximately 4.1 to 6.8 million residents by 2030, Alexandria is at the heart of Egypt’s urban challenges. The city stretches along the Mediterranean coast, between a dense historic center, wealthier coastal extensions, and new urban communities like New Borg El Arab, connected to industrial zones and the airport.
The state has committed nearly 63.5 billion EGP in public spending for Alexandria for the 2024/2025 fiscal year.
For the real estate investor, this means two things: a base of demand supported by demographics and the real economy (port, industry, tourism, universities), and numerous “catalysts” for value appreciation in certain corridors (Abu Qir, Smouha, Sidi Gaber, areas around the future metro and new roadways).
Furthermore, compared to many Mediterranean cities, price levels remain significantly more affordable, offering an attractive risk/return profile, provided the legal and tax framework is well understood.
2. The legal framework for foreigners: what you need to know before buying
The cornerstone of foreign property ownership in Egypt is Law No. 230 of 1996, complemented by other texts governing agricultural and desert land (Law 143/1981), Sinai lands (Law 14/2012), and the prohibition for foreigners to own undeveloped agricultural or desert land (Law 15/1963). Alexandria, an urban city on the Mediterranean, is not subject to the drastic restrictions of Sinai: a foreigner can buy a residential property in full ownership, but within very specific limits.
2.1. Ownership ceilings and accessible asset types
For an individual foreigner, the rule is clear:
– Maximum of two properties in Egypt in total.
– Cumulative area capped at 4,000 sqm.
– Use exclusively residential.
It is therefore impossible, as an individual, to acquire agricultural land, industrial land, or an office plot. Likewise, certain strategic sectors or military zones are closed to foreign ownership, even for residential use.
However, an Egyptian company owned up to 100% by foreigners can buy commercial, industrial, or tourism real estate for the needs of its activity. These companies are not subject to the same per-unit caps. This is a preferred route for those targeting office buildings, tourist residences, or commercial premises in Alexandria.
2.2. Purchase process: registration, a vital point
The most common mistake non-resident investors make is thinking that signing a preliminary contract is sufficient. In Egypt, the true transfer of ownership only occurs upon registration with the Real Estate Publicity Department (Al‑Shahr Al‑Aqari). Without this step, the contract remains vulnerable to disputes, double sales, or hidden mortgages.
The immigration process for a foreigner generally unfolds in several distinct major steps, such as document preparation, application submission, administrative review, and final acquisition of the required status or visa.
– 1. Preliminary title checks Before any significant payment, it is essential to verify:
– the absence of mortgages or debts (condominium fees, unpaid water/electricity bills),
– the consistency of previous titles, especially in older buildings in neighborhoods like Smouha, Stanley, or Kafr Abdo, where ownership chains are sometimes complex,
– compliance of use (zoning) with the Alexandria Governorate or district council.
2. Approval of the Council of Ministers Any acquisition by a foreigner must be approved by the Council of Ministers. This procedure, which includes a security check, typically takes between one and two months.
To finalize a property acquisition, the buyer must be in possession of a valid Egyptian visa or residence permit. A standard tourist visa is not sufficient.
4. Transfer of funds The entire purchase price must be paid in foreign currency through official banking channels, from abroad to an Egyptian public bank. This is a key condition for later being able to repatriate rental income and sale proceeds.
5. Authentication and registration The contract is authenticated, then registered with Al‑Shahr Al‑Aqari. The legal deadline to finalize registration after authentication is ten days. Only at this point does the buyer obtain the title deed (“aqd mosagal”) that constitutes proof of ownership.
A notarized power of attorney given to a local lawyer allows managing all these steps remotely, without the client’s continuous physical presence.
2.3. Residence and citizenship: what real estate allows… and does not allow
Buying a property in Alexandria does not automatically grant the right to residence or citizenship. However, certain thresholds serve as a basis for specific procedures:
– A property worth at least 50,000 USD can contribute to obtaining a renewable residence permit.
– A real estate investment of 400,000 USD or more facilitates access to longer-term residence permits.
– A citizenship-by-investment program exists, with a minimum ticket of 300,000 USD, but only through units owned by the state and with a regulated procedure.
In all cases, real estate is a lever, not an automatic passport.
The Alexandria market is characterized by a very wide price range, from affordable housing in peripheral neighborhoods to prestigious residences on the Corniche.
3.1. Overall price levels in 2026
At the start of 2026, the broad figures are as follows:
| Indicator | Approximate value |
|---|---|
| Median apartment price | 5.5M EGP (~116,000 USD) |
| Average home price | 6M EGP (~126,000 USD) |
| Median price per sqm | 35,000 EGP |
| Average price per sqm | 42,000 EGP |
| Range for 80% of properties | 2.5–12M EGP |
| Realistic entry-level | 1.5–2.5M EGP |
| Luxury segment | 18–55M EGP (and above) |
In practice, a 120 sqm apartment often trades around 950,000 EGP in the historical statistics cited, which shows the possible gap between official averages and actual prices depending on the neighborhood and property quality.
Over ten years (2016-2026), nominal property prices have surged 400% to 800%, fully playing its role as a safe-haven asset.
3.2. Prices by property type
Apartments represent the bulk of the market (about 75%). The average benchmarks for the first half of 2026 are as follows:
| Property type | Average price (EGP) | Approximate USD equivalent |
|---|---|---|
| Studio | 2.5M | ~53,000 USD |
| 1-2 rooms | 4.5M | ~95,000 USD |
| 3 rooms | 7M | ~147,000 USD |
| Duplex / penthouse | 12M | ~252,000 USD |
| Townhouse | 16M | ~336,000 USD |
| Detached villa | 25M | ~525,000 USD |
Some sources mention an average villa price of 1.5M EGP and a recommended budget of 2.5M EGP for this type of property; these figures clearly refer to older references or very peripheral products. In current practice, villas in sought-after areas (Agami, King Mariout, Borg El Arab) are priced much higher.
3.3. Large disparities between neighborhoods
In Alexandria, the “location” factor is understood in terms of distance to the Corniche, proximity to major arteries (Mahmoudieh, El‑Tameer, future metro), and historical prestige of the neighborhood.
A few reference points by area to better understand regional specifics
Europe is characterized by great cultural and linguistic diversity within a relatively small territory. It is the birthplace of many international institutions.
Asia is the most populous and largest continent. It presents extreme contrasts between highly advanced economies and rapidly developing regions.
This area is marked by the major economic and cultural influence of the United States and Canada, with large metropolitan areas and vast natural spaces.
A region with a rich pre-Columbian and colonial heritage, Latin America possesses a great diversity of landscapes, climates, and cultures.
Africa is a continent with considerable demographic and economic potential, with a wide variety of cultures, languages, and ecosystems.
Composed mainly of Australia and New Zealand, this area includes many Pacific islands, with unique and fragile ecosystems.
| Neighborhood | Positioning | Approximate price per sqm (EGP) |
|---|---|---|
| San Stefano | Ultra-prime coast, Four Seasons, marina | 35,000–90,000 |
| Kafr Abdo | “Old money” residential, low supply | 45,000–75,000 |
| Gleem | Waterfront, towers and sports clubs | 40,000–70,000 |
| Stanley | Corniche and iconic views | 40,000–65,000 |
| Roushdy | Quiet upscale, strong rental demand | 35,000–55,000 |
| Smouha | Central family neighborhood, well-served | 30,000–50,000 |
| Sporting | Central, quality-of-life oriented | 30,000–48,000 |
| Sidi Gaber | Transport hub, mix middle/upper | 28,000–45,000 |
| Mandara | Accessible east, good budget/transport compromise | 18,000–28,000 |
| Agami | Budget beach, vacation area | 15,000–25,000 |
| Abu Qir | Popular east, potential linked to metro | 16,000–24,000 |
| Borg El Arab | Periphery, large spaces | 12,000–20,000 |
Apartments directly on the Corniche in San Stefano can reach 90,000 EGP/sqm, more than seven times the price seen in peripheral areas like Borg El Arab.
3.4. What you can buy according to your budget
Budgets in foreign currency give a concrete idea of current possibilities:
| Approximate budget | Examples of accessible assets |
|---|---|
| 100,000 USD (~4.76M EGP) | 120 sqm in Mandara, 100–120 sqm old in Smouha, 140 sqm in Borg El Arab |
| 200,000 USD (~9.52M EGP) | 160–180 sqm family in Smouha, 180–200 sqm in Sidi Gaber, 140–170 sqm in recent compound in Smouha |
| 300,000 USD (~14.28M EGP) | 200 sqm near Corniche in Stanley, 180–220 sqm premium in Roushdy, 170–200 sqm upscale in Smouha |
| 500,000 USD (~23.8M EGP) | 250–300 sqm in San Stefano, 250 sqm Corniche in Gleem, villa or twin house in recent periphery |
| 1,000,000 USD (~47.6M EGP) | Large waterfront in San Stefano, prestige villa in Kafr Abdo, or portfolio of 2–3 quality apartments |
| 2,000,000 USD (~95.2M EGP) | “Trophy assets” on the Corniche, iconic villas, or diversified portfolio Corniche + central-east |
In any case, keep in mind that listed prices include room for negotiation.
4. Rental yields: where are the best opportunities
For an investor, Alexandria is appealing due to gross yields often higher than those in Cairo, particularly because prices have not risen as fast while rental demand remains solid.
4.1. Gross and net yields: orders of magnitude
Citywide, several indicators stand out:
– Average gross rental yield: around 5–6.5%.
– Average gross yield cited in some studies: 5.06%.
– 2-bedroom apartments offer the best yields: about 6.7% on average.
– 3-bedroom apartments are around 4.7–6.5%.
– 4-bedroom apartments drop to 3.8%.
Generally, the larger the surface area, the more the yield contracts. Studios and small 1-bedroom units dominate in percentage, as demand from students, young professionals, and seasonal tenants is very deep in these segments.
After deducting condominium fees, maintenance, insurance, taxes, and potential property management, net yields typically fall in the range of 3–5% for a well-managed apartment, sometimes 6% in optimized cases. Recurring costs represent on average 25–35% of gross rents.
4.2. Rent levels by property type
At the start of 2026, the observed monthly rent ranges in Alexandria are as follows:
| Property type | Average rent range (EGP/month) | Comment |
|---|---|---|
| 1 bedroom | 14,000–20,000 (entry-level from 10,000) | Well-located units rent quickly |
| 2 bedrooms | 15,000–25,000 (entry-level from 12,000) | Key segment for families and roommates |
| 3 bedrooms | 18,000–30,000 (up to 50,000 in luxury) | Stable demand but lower yield |
Generally, the typical rental budget ranges from 7,000 to 40,000 EGP per month, depending on location, size, and building quality. Waterfront properties, furnished and air-conditioned, particularly in San Stefano, Gleem, or Stanley, command the highest rents, especially in summer.
A well-positioned and properly priced apartment typically rents within two to six weeks, or even one to three weeks in high-demand neighborhoods, with a vacancy rate of only 4 to 8%. Conversely, an overpriced or poorly maintained property can remain vacant for several months.
The research report distinguishes quite clearly between two families of areas:
– High gross yield neighborhoods (7–8.5%): Sidi Beshr, Miami, Mandara, Asafra, Bolkly, Fleming, Ibrahimia, some areas of Sidi Gaber, but also Smouha, Cleopatra, or Moharram Bey. Prices remain moderate while demand from middle classes, students, and workers is strong.
– Premium neighborhoods with more modest yields (5.5–6.5%): San Stefano, Gleem, Stanley, Kafr Abdo, Roushdy, Sporting. Capital is better protected long-term, resale liquidity is excellent, but the rent/price ratio is less favorable.
To illustrate, some figures from the cited studies:
| Neighborhood | Approximate gross rental yield |
|---|---|
| Smouha | 6.5–8.5% |
| Sidi Gaber (interior) | 6–8% |
| Cleopatra | 6–8% |
| Moharram Bey (best streets) | 6–9% |
| El Sheikh Zayed (upscale neighborhood) | 7.39% |
| Nasr City | 6.0% |
| North Coast (vacation residences) | 4.5% |
In some gentrifying areas (Cleopatra, Ibrahimia, interior streets of Sidi Gaber, corridors toward Abu Qir), annual price increases observed range between 15% and 25%, with projections of 10–15% per year on certain streets. The challenge for the investor is to accept a slightly lower yield in the short term to capture the potential capital gain linked to infrastructure projects (Abu Qir metro, Mahmoudieh axis, etc.).
4.4. Long-term rental vs. short-term rental
Short-term rental platforms (like Airbnb) have established themselves in several coastal neighborhoods of Alexandria:
The maximum annual revenue that can be generated by renting a premium property in Alexandria.
Generally, the difference in gross yield between long-term and short-term rental is between 1 and 4 percentage points, in favor of short-term, provided an annual occupancy rate of at least 55–65%. The additional costs are far from negligible: cleaning, utilities, furniture replacement, platform commissions, more intensive management, possible licenses.
For a non-resident foreign investor, long-term rental, with a low vacancy rate and simpler management, often remains the most pragmatic strategy, unless fully delegating management to a local company specializing in seasonal rentals.
5. Ancillary costs, taxation, and financing: the real total
Investment is not just about the purchase price. Between taxes, registration fees, professional fees, and renovation work, the final bill can represent 12 to 30% more than the listed amount, depending on the property’s condition and desired level of renovation.
5.1. Acquisition costs and negotiation
The studies list several recurring items:
– Notary and registration fees: in practice, 1–2% each.
– Lawyer fees: 1–2% of the property value, depending on case complexity.
– Real estate agent commission: often 2–3%, usually borne by the seller, but this is negotiable.
– Transfer tax: a tax of 2.5% on the transaction, often included in the deal.
In total, “closing costs” represent on average 5–8% of the price, excluding work. However, negotiation is very common: transactions generally close with a discount of 8–12% on the asking price, more on cash resales than on installment sales with a payment plan.
5.2. Recurring charges, maintenance, and insurance
For the landlord, several recurring expenses must be anticipated:
| Item | Order of magnitude |
|---|---|
| Condominium / service charges | 3–18% of annual rent, or 500–6,000 EGP/month for an average apartment |
| Routine maintenance | 1–2% of property value per year (25,000–60,000 EGP/year for an average property) |
| Home/landlord insurance | 0.1–0.3% of insured value (1,500–6,000 EGP/year for a standard policy, 2,500–9,000 EGP on higher values) |
New condominiums with security, modern elevators, parking, and extensive amenities naturally have the highest charges. Older buildings without elevator or services are significantly cheaper but may prove less attractive to solvent tenants in practice.
5.3. Taxation on wealth, rental income, and capital gains
Three tax aspects directly concern the investor:
The annual property tax for an average apartment in Egypt ranges between 2,000 and 8,000 EGP.
2. Tax on rental income Rents received by a foreign individual are taxed according to a progressive scale, with effective rates generally between 15 and 25%, and a top marginal rate of 27.5%. Taxation can be optimized by deducting certain expenses (maintenance, local loan interest, etc.), hence the benefit of careful accounting or using a structure (company) when volumes become significant.
Profits (capital gains) realized from the resale of real estate are subject to a tax of approximately 2.5%. A rule generally imposes a holding period of five years before resale, unless an exceptional derogation is granted by the Prime Minister. For vacant land, construction must begin within five years of registering the title deed.
Egyptian companies owned by foreigners pay corporate income tax at a rate of 22.5% on profits from renting or operating their real estate assets.
5.4. Access to credit: possible, but expensive
A few national banks now accept lending to foreigners for property purchases in Alexandria, but conditions remain strict:
– Very high market interest rates: around 22–26% per year in early 2026.
– Realistic loan-to-value (LTV) ratios for non-residents: 50–80% at best, with a preference for profiles already holding a residence permit and declared income in Egypt.
– Subsidized mortgage programs at 3–8% are almost entirely inaccessible to foreigners.
Given this cost of credit, many foreign investors prefer cash purchases or installment payment plans offered by some developers, rather than conventional mortgages.
6. Specific risks and good due diligence practices
Alexandria offers attractive yields, but it is also a market where certain informal practices persist and where administrative complexity can trap the uninitiated.
6.1. The major risk: an unregistered property
The most common pitfall is to settle for a notarized sales contract without carrying out the land registration. In this case, the seller remains officially the owner in the eyes of the administration, with several risks involved:
– Resale of the same property to a third party.
– Pledging the property as collateral with a bank.
– Disputes by heirs, especially in older buildings.
Registration with Al‑Shahr Al‑Aqari is not an optional formality, but the act that confers full legal validity to the real estate transaction.
Many sought-after neighborhoods like Smouha, Stanley, Kafr Abdo, or Roushdy consist of older buildings with complex ownership structures: family co-ownerships, unregularized titles, illegal extensions, etc. Before buying in this type of building, it is prudent to:
– Reconstruct the complete title history over several owners.
– Check the co-ownership regulations and pending fee assessments.
– Examine the presence of undeclared structural work.
It is essential to check for arrears in condominium fees and water or electricity bills, as these debts can follow the property rather than the previous owner.
6.3. Zoning, use, and legal constraints
Even when a property is clearly residential, it is advisable to consult planning documents from the governorate or district council to verify:
– The status of the street (residential, mixed, commercial).
– Any upcoming road projects, thoroughfares, or expropriations.
– Height or density limits that could impact the view or value.
This is especially important near major projects like the rehabilitation of the Mahmoudieh Canal, the restructuring of the Corniche, or the future Abu Qir – Borg El Arab metro.
7. Where to invest in Alexandria according to your strategy
By cross-referencing price, yield, and urban dynamics data, several investment profiles can be distinguished.
7.1. “Rental yield” strategy: neighborhoods to favor
To maximize income, without targeting absolute prestige, certain areas clearly stand out:
– Smouha: good price/demand balance, strong clientele of families, professionals, and expatriates, gross yields 6.5–8.5%, high rental liquidity.
– Sidi Gaber (interior streets): proximity to the train and Corniche, good performance in long-term and short-term rentals in certain blocks.
– Cleopatra, Moharram Bey, Sporting, Fleming, Bolkly: central or semi-central neighborhoods, some gentrifying, often generating 6–8% gross yield.
– Miami, Sidi Beshr, Mandara, Asafra: eastern fringe of the Corniche, combination of annual and seasonal rentals, still reasonable prices, attractive rent/price ratios.
In these areas, well-located one-bedroom or small two-bedroom apartments often provide a good compromise between yield and controlled vacancy.
7.2. “Medium-term capital gain” strategy: betting on major projects
Several corridors directly benefit from infrastructure investments and urban planning schemes:
Key sectors and structuring projects likely to reshape land and property values in the metropolis.
45.5 km surface metro line planned to carry 10,000–15,000 passengers/hour. Major impact expected on values of secondary neighborhoods along its route.
21 km axis with new viaducts and access roads. Offers strong appreciation potential for average residential neighborhoods along its banks.
Strategic land identified for high-density mixed-use development (FAR 3), presenting strong growth potential.
Projected annual increases of 10–15% in micro-areas of Cleopatra, Ibrahimia, and Sidi Gaber, subject to precise choice of street and building.
In these zones, the rental yield may be slightly lower than in already mature neighborhoods, but the prospect of capital appreciation over 3 to 5 years is higher.
7.3. “Legacy / prestige” strategy: waterfront and upscale neighborhoods
For investors primarily seeking a prestige asset, easily resalable and with strong capital preservation, a few neighborhoods are essential:
Overview of the main Alexandrian neighborhoods for real estate investment, with their characteristics and performances.
Iconic hub with the Four Seasons complex, shopping center, and marina. Excellent seasonal rental performance and strong international demand, but shows lower gross yields.
Row of towers with spectacular views. High Airbnb activity for upscale segments and good resale liquidity.
Quiet streets with well-maintained plots and low or mid-rise housing. ‘Old money’ image, much sought after by expatriates and affluent families.
In these neighborhoods, long-term capital appreciation and ease of resale often outweigh immediate rental yield.
8. Structural trends: why Alexandria remains a stronghold long-term
Beyond the numbers, the appeal of Alexandria for the investor lies in the convergence of several major trends.
8.1. Real estate as a hedge against inflation
In Egypt, property is traditionally a tool for protection against monetary erosion. Between 2016 and 2026, the rise in real estate prices in Alexandria, even adjusted for inflation, reflects a massive shift by households and savers toward real estate. In a context of volatile currencies, the apartment or villa remains for many the quintessential tangible asset.
8.2. An unparalleled infrastructure pipeline
Few cities of comparable size can claim, at the same time,
A set of major projects aimed at modernizing transport infrastructure and stimulating urban and tourism development in the city.
A new 45.5 km line linking Abu Qir to Borg El Arab to improve mobility.
Renovation and extension of the city’s historic tram line.
Modernization of a 22 km railway line within the urban area.
Creation of the El-Tameer axis (50 km) and the Abu Qir ring road (16 km) to ease traffic.
Requalification of the canal into an urban and economic development corridor.
Development of the Corniche with an international tourism center, hotels, and a marina.
Historically, this type of investment eventually reflects in land values of served neighborhoods, even if the effect sometimes takes several years to materialize.
8.3. Diversified rental demand
The Alexandria rental market does not rely on a single pillar:
Alexandria welcomes over 3 million visitors per year, representing a major tourism activity.
This diversification partially protects owners from isolated sectoral shocks: even if one component (for example, tourist demand) slows down, other segments continue to support rental demand.
9. How to concretely structure an investment project in Alexandria
For a foreigner or a member of the diaspora, a methodical approach is essential. Several steps emerge from best practices observed in the market.
9.1. Clarify your strategy and horizon
Before choosing a neighborhood or property, you must decide:
– Immediate rental yield or medium-term capital gain?
– Long-term rental, short-term, or a mix of both?
– Self-management or delegation to a local company (with 5–12% management fees)?
– Holding period: respect the five-year rule, or aim longer?
These choices will naturally guide the property type (studio/1-bedroom vs. large apartments), the neighborhood (high yield vs. prestige), and the level of finish sought.
9.2. Surround yourself with local professionals
The research report lists a directory of over 5,000 agencies, developers, and management companies in Egypt, including 578 in Alexandria. This network of intermediaries allows you to:
Using a professional helps source “off-market” or better-positioned properties than online listings, obtain a realistic assessment of rents and vacancy rates in a specific micro-area, and delegate management of administrative procedures, especially for non-resident investors.
Some property management companies offer “turnkey” services: rental marketing, tenant selection, rent collection, maintenance monitoring, sometimes even tax optimization.
9.3. Budget for all costs… and a safety cushion
A good rule of thumb, based on the report data, is to consider that: observed trends are generally representative of future behavior.
– Acquisition costs (fees, taxes, professional fees) represent 7–11% of the price.
– Light renovation adds 5–10%, heavy renovation up to 25%.
– Including everything (fees + work), the total cost can represent 12–30% more than the listed price.
On this basis, the report simulations show for example that:
The real cost of a property in Cairo can represent 112 to 131% of the listed price, due to additional fees.
Taking these amounts into account from the decision phase helps avoid budget disappointments and adjust your financial leverage (cash vs. credit).
9.4. Manage currency risk and exit strategy
Finally, a foreign investor must keep in mind:
– that incoming flows (rents) will be in EGP, while their reference wealth is often in USD or EUR,
– that the possibility of repatriating funds (rents, sale price) requires that the initial purchase was made through Egyptian banks, in foreign currency.
The exit strategy must be planned from entry: target buyer type (local vs. expat), probability of resale in foreign currency to another foreigner, or decision to use the resale as a source of capital to reinvest locally.
10. Summary: Alexandria, a promising but demanding market
Investing in real estate in Alexandria means betting on a city that is both historic and undergoing transformation: the country’s second largest city, an industrial and port crossroads, a tourist and university destination, and now a laboratory for major urban projects (metro, road axes, redevelopment of the Mahmoudieh Canal, requalification of the Corniche).
The research report data highlight a market that is:
– still affordable compared to other Mediterranean cities,
– supported by diversified rental demand,
– offering gross yields from 5% to over 8% depending on the neighborhood,
– promising significant value increases in infrastructure corridors.
Real estate purchases for foreigners are subject to ownership ceilings and require ministerial approval. It is also necessary to account for specific taxation, very high local interest rates, as well as risks related to unregistered titles and old co-ownerships.
For the patient investor, willing to work with local professionals, respect registration procedures, and carefully choose the neighborhood and property type, Alexandria offers portfolio potential combining regular income in local currency and long-term capital protection. Provided that Alexandrian property is viewed not as a short-term speculative bet, but as an asset at the heart of a thoughtful and informed wealth strategy.
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