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Sunday, 6 May 2018

Defense Ministry amends land use regulations in Sinai

Defense Ministry amends land use regulations in Sinai: The Defense Ministry issued a new directive on Saturday on regulations governing land use in Sinai, Youm7 reports. The directive, published in the Official Gazette, divide up the peninsula into zoning districts and restricting ownership in some of these districts to full Egyptian citizens born to Egyptian parents or companies with whose shareholders are entirely Egyptian. Developments in North Sinai will be restricted to Egyptians. Ownership in areas zoned residential and desert land in South Sinai would also be restricted to Egyptians as well. Land zoned for major infrastructure development can be owned by entities whose Egyptian shareholders hold at least 55%. Land designated for large investment projects appear open to all, according to the local press. The new directives reportedly came into effect on Friday. The move comes as the government hopes to implement a EGP 275 bn development plan for Sinai. Investment and International Cooperation Minister Sahar Nasr had stated that she was in talks with the World Bank for a USD 1 bn loan for Sinai.

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