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Wednesday, 8 June 2016

Activists concerned over increased Saudi land ownership in Egypt

Activists are concerned President Abdel Fattah El Sisi is broadening Saudi citizens’ rights to own real estate in Egypt, Ahmed Hidji writes in Al-Monitor. Their concerns are driven by a case that saw Saudi citizen Hamoud bin Mohammed Saleh allowed to own two parcels of desert land previously owned by Egyptian citizens in Giza, bypassing a law that restricts non-Egyptian ownership in Egypt to two properties, each not exceeding one acre. An international law expert sees it a slippery slope that could end up with Saudis dominating the real estate market in Egypt, pushing real estate prices even higher.

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