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A new decree No 350 issued on 17 February 2007 by the Prime Minister Dr. Ahmed Nazeef has decided that all companies new land plots and properties ownership for all nationalities including Egyptians in Sinai is a usufruct Right for a maximum period of 99 years and renewable for one or more similar periods according to the agreement with the land lord.
This is considered as a continuation for the previous decree 548 of 2005 for foreigner's ownership as a usufruct right for 99 years and their status is still unchanged but it is now clear that it can be renewed.
All the previous owned properties to Egyptian individuals or developers can still be sold as a free hold to Egyptians ONLY.
This is a summary
If you are interested to have a copy of the decree kindly send us an Email and will be glad to send you a copy
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