Some see amendments to property-ownership laws in the Sinai Peninsula as much-needed improvements, but critics see the amendments as not going far enough. It appears the changes could make it easier for Egyptians to own land but not necessarily sell it.
President Abdel Fattah al-Sisi issued Law No. 95 of 2015 amending some restrictions of Law No. 14 of 2012 on the integrated development of Sinai. These amendments have been long awaited by many investors in Sinai, who hope the changes will entitle them to own the land and real estate properties needed for their projects.
Sirajuddin Saad, head of the General Authority for Tourism Development — one of the bodies participating in drafting the amendment — told Al-Monitor, “The amendments to the law were very good, as they enable Egyptians to own lands and real estate properties, which was banned by virtue of Law No. 14/2012. Moreover, the increase of the duration of usufruct to 50 years with a maximum of 75 years, instead of the 30-year usufruct span provided for in Law No. 14/2012, allows investors to reap the profits of their projects.”
Saad stressed that these amendments will promote development in Sinai, noting that numerous tourism development projects awarded by the authority were suspended following the promulgation of Law No. 14/2012. Under this law, project owners were unable to own the land where their projects are established, which would have enabled them to obtain financing from banks.
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