Abdel Fattah Al-Sisi has issued a Presidential decree allowing King of Bahrain Hamad bin Isa Al Khalifa to own land and property in Egypt’s Sinai, reported Aswat Masriya citing Al-Ahram, a state-owned newspaper.
The Egyptian law restricts the right of owning land and property in Sinai to Egyptians who are born to Egyptian parents and have no other citizenship, but the law does not prevent foreigners from purchasing land or property in other areas of Egypt.
However, the presidential decree issued by al-Sisi excluded the King of Bahrain and allowed him to purchase three villas which are part of the Movenpick Hotel after the approval of both the ministries of defense,and interior as well as the General Intelligence Service, the National Authority for the Development of Sinai Peninsula, and the Egyptian cabinet.
The presidential decree stated that it has been agreed to “treat His Highness King Hamad bin Isa Al Khalifa, the King of Bahrain, as an Egyptian citizen – according to the law No. 14 of 2012 on the comprehensive development of Sinai Peninsula, amended by law No. 95 of 2015 and its executive regulations – and allow him to own land and villas number (B2/70, C, E2) at Nema Bay in Sharm el-Sheikh, South Sinai, for residency.”
The King of Bahrain visited Egypt on numerous occasions. Last April, the King of Bahrain visited Egypt and signed 11 cooperation memorandums in fertilizers, medicines and training fields.
The Bahraini investments in Egypt reach $ 2.7 bn according to a previous statement released by the minister of commerce and industry.
