EGYPT: Prohibition on Egypt foreign ownership of land in strategic zones

Monday January 21 2013

The Egyptian Minister of Defence Abdel Fattah El-Sisi has prohibited the acquisition of land located in “strategic areas” of military importance by foreign investers.

The Armed Forces’ Decree No 203 in 2012 relates to land and housing within five kilometres from the country`s eastern borders with Gaza, except properties in the North Sinai city of Rafah.

Neither Egyptians nor foreigners will be allowed ownership, usufruct or rent of lands or properties in affected zones, including the Red Sea’s islands, natural reserves and archaeological areas.

Click on the above link for the decree (in Arabic).