LEGAL: Questions and Answers by an Egyptian lawyer

[Jon123]

I have been informed by an lawyer here in Hurghada of an apparent significant change in Egyptian property law that I had not previously been aware of. Apparently, foreign freehold owners of registered Egyptian property CAN now sell whenever they like (with the exception of Sharm el Shiekh), unlike as before being restricted to waiting 5 years before they can sell. The lawyer I met says the law changed towards the end of last year.

If this is true, would it not be a major additional incentive to buy in mainland Egypt as you can have both the security of a registered property AND the flexibility of being able to sell whenever you want? As I understood it, previously you only had flexibilty over selling via the less secure "court signature validity verdict" route.

Are there any other Egyptian legal eagles out there who have heard about this apparent law change?

Thanks in advance for any replies.

[dave99]

Originally Posted by Jon123

I have been informed by an lawyer here in Hurghada of an apparent significant change in Egyptian property law that I had not previously been aware of. Apparently, foreign freehold owners of registered Egyptian property CAN now sell whenever they like (with the exception of Sharm el Shiekh), unlike as before being restricted to waiting 5 years before they can sell. The lawyer I met says the law changed towards the end of last year.

If this is true, would it not be a major additional incentive to buy in mainland Egypt as you can have both the security of a registered property AND the flexibility of being able to sell whenever you want? As I understood it, previously you only had flexibilty over selling via the less secure "court signature validity verdict" route.

Are there any other Egyptian legal eagles out there who have heard about this apparent law change?

Thanks in advance for any replies.

This looks very important - I hope someone has the answer.
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[um zineddine]

Originally Posted by Zeiad Yehia

Hello,

Yes there is something you can do. Make sure it is a 'specified' power of attorney, limited to signing on your behalf regarding purchasing this very property, and mention that the PoA is limited to this purpose and does not exceed it. PoA should be in English and Arabic, and must be ratified by the Egyptian authoritiez "Notary Public if done locally, or Egyptian embassy if done internationally."

All the best,

Zeiad Yehia
Solicitor

HI Zeiad,
thank you very much for your response, we solved it thank to god i withdraw my name from the contract, my husband went, he signed the contract and at the same time he solved many other things, i am happy that it is on his name only, it is much easier for man to travel but for us as a mother of 4 it is so hard.
thank you so much

[betty65A]

Hi zeiad,

we have purchased a one bed flat in sierra back in
march 2008. we gave power of atorney to a lawyer recomended by sharm el sheikh real estate and paid him his fee. after 7 months we didn't hear from him , we emailed him and he is asking us to send him the contract to take it to the court to notorize it. is it ok that we send our contract to him? I thought he should get the contract from sharm el sheikh real estate?is there anything else we should do? thanks/Betty

[rupert_evers]

I am considering buying a lot of land in Dahab, developing a couple of apartments and selling them.

I have read the information about property ownership in Sharm. Does anyone know whether it is the same in Dahab?

Could someone also confirm if it is possible to resell property in less than 5 years?

Thanks

[queenie40something]

Hi Rupert and welcome to the forum. As far as I am aware Dahab is still freehold but Zeiad strongly recommended against buying there. See the 1st page of this thread.

[anni]

tried to look you up when we were in sharm noverber but could not find you but it was one of your holidays hope you had a good one. I am wondering if you know anything about :RO ABIE:can not remember how to spell it, it is a area being built on by indeviduel builders flats and villas I have been round the area a few times and know there is some sort of problem with it over the land I think but each person I speek to has a diffrent story as to if it will get finished and when? it is between the airport and nabq I would like to buy a flat there can you tell me anything about it? anni

[queenie40something]

Hi Anni - I know there is a building - pretty much a shell that has been standing for a couple of years untouched. This is between the airport and Nabq - if coming from the airport it is on the right hand side??? If this one I was told that the developer built too far over the airport boundaries by a foot or something silly. Dont know the name of it though so may not be the one you are thinking of.

Hope you are well xx

[anni]

hi queenie yeah i'm fine. happy new year to you. roabie is a walled large estate opposite the sea life resort lovely villas and blocks of flats built in it more for residental living very egyptian but it has a problem with the goverment and ower. its hard to find agents for it. we went out to buy property in sharm in november put deposits on two flats then the uk house sale fell though and we lost deposits and flats very upsetting but we are still positive and just waiting till the time we can get there wanna buy a house lol. what has happened to zeiad

[queenie40something]

and the same to you Anni. Sorry to hear you have lost deposits what a nightmare.
No I havent heard about this one. I will ask Clare who looks after my apartment if she knows anything about it.
I think Zeiad is just too busy at the moment to check the forums. My registration is all complete now xx