The time drawing near (or time of fulfillment) refers to the moment when God acts in a special way to achieve his purposes (see also Galatians 4:4–5). The mention of the time drawing near, in this instance, ties the land of Canaan to the growth of Jacob’s descendants in Egypt.1
17 “But as the time of the promise drew near, which God had granted to Abraham, the people increased and multiplied in Egypt