Latest news with #EgyptianHouseofRepresentatives
Daily News Egypt
05-08-2025
- Politics
- Daily News Egypt
Al-Sisi ratifies amendments to Old Rent Law
Egypt's President Abdel Fattah Al-Sisi has ratified Law No. 165/2025, amending certain provisions of Law No. 4/1996 regarding the application of the Civil Code to properties that have never been rented before, or whose lease contracts have ended—or will end—without granting any party the right to remain in them. The law will come into force the day after its publication in the Official Gazette. A newly added Article (2 bis) stipulates that the tenant—or their general or specific successor—must vacate the rented property and return it to the owner or lessor at the end of the lease term specified in the contract. Should the tenant refuse, the owner or lessor may request the summary judge of the competent court to issue an eviction order, without prejudice to the right to claim compensation if applicable. The Egyptian House of Representatives gave final approval to the government-proposed amendments in early July, aiming to resolve longstanding legal and economic challenges associated with old rent agreements. Under the new law, a transitional period has been set before the termination of these contracts: seven years for residential units and five years for non-residential units rented by natural persons. This is intended as a step towards liberalising rental relations between landlords and tenants. At the end of the transitional period, tenants will be required to vacate the units and return them to the owners. The law also confirms that all previous legislation regulating old rent agreements will be repealed after this period. New rental contracts thereafter will fall under the provisions of the Civil Code, ensuring freedom of contract between landlords and tenants. The Old Rent Law has been the subject of widespread debate in recent years. Supporters—mainly property owners—argue it has caused decades of injustice and financial loss due to outdated, fixed rental values. Meanwhile, opponents—primarily long-term tenants—express concern over eviction and the challenge of meeting significantly higher rental prices under new agreements.
See - Sada Elbalad
08-07-2025
- Business
- See - Sada Elbalad
Egyptian Parliament Approves Sukari Gold Mine Agreement with StenaMin for 30-Year Term
Waleed Farouk During its plenary session on Monday, the Egyptian House of Representatives approved a draft law allowing the Minister of Petroleum and Mineral Resources to enter into a contract with the Egyptian Mineral Resources Authority (EMRA) and StenaMin Central Mining Company for the exploitation of gold ore and associated minerals in the Sukari concession area, for a period of up to 30 years. MP Mohamed Mostafa El-Sallab, Chairman of the Industry Committee, presented the joint committee's report, noting that the agreement falls under Law No. 198 of 2014 on Mineral Resources and its amendments, and aims to strengthen Egypt's mining sector and attract foreign direct investment (FDI). According to the agreement, StenaMin, a company established under Egyptian law, will bear all investment and operational costs of the project, without any financial obligations or guarantees from the Egyptian state. These costs include infrastructure development, mining operations, and production activities. The company is also obligated to pay an annual rent of EGP 25,000 per square kilometer of the concession area, paid in advance. The first installment is due within 15 days from the date the license becomes effective. Additionally, StenaMin will pay a 5% royalty on the net proceeds from gold sales (tax-exempt) and 15% of net taxable income to the Mineral Resources Authority. The report emphasized that the company will be subject to all applicable Egyptian tax laws, including value-added tax (VAT) and customs duties, and must pay all dues on time. Any payment delays will incur an annual interest penalty of 5%. The agreement also includes provisions for conducting all financial transactions in foreign currency, giving priority to locally sourced goods and services when quality and price are equal to imported alternatives, and requires the company to carry out a comprehensive environmental and social impact assessment. Furthermore, the company will own all gold and associated minerals upon extraction, and the Egyptian government commits not to nationalize or expropriate the company's assets except in accordance with the law. El-Sallab emphasized that the agreement will help attract new foreign investment, increase state revenues, transfer mining expertise to local talent, create new job opportunities, support foreign currency reserves, and boost GDP growth. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War News Flights suspended at Port Sudan Airport after Drone Attacks News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
Al-Ahram Weekly
02-07-2025
- Business
- Al-Ahram Weekly
Egypt parliament approves overhauling controversial old rent law amid opposition walkout - Society
The Egyptian House of Representatives has approved a highly anticipated and contentious bill aimed at overhauling the country's decades-old "old rent" law, sparking a walkout by opposition lawmakers. The legislation, which introduces a transitional period before ending existing contracts and significantly raises rental values, seeks to rebalance the relationship between landlords and tenants. The bill was approved on Wednesday during a general session chaired by Speaker Hanafy Gebaly. It marks a significant shift from the current rental system, which has long favoured tenants with fixed, low rents. The old rent law is one of Egypt's most complex social and legal issues, affecting millions of tenants and landlords across generations. Thousands of apartments, worth millions, are still rented for very little in Egypt because of rent freezes under the old law, leaving landlords unable to reclaim their property for years. While landlords have frequently sought to reclaim their properties through complaints, many tenants, who are mostly pensioners, have voiced concerns about being unable to move out and purchase new homes due to high costs. According to official figures, 1.6 million original tenants and 3.019 million units were rented nationwide as of 2017 under the old rent law. Key changes under the newly approved law include the following: Transitional Periods: A seven-year transitional period will be implemented for residential units, and a five-year transitional period will be applied to non-residential units. After these periods, tenants must vacate the properties, and all old rent laws will be abolished. However, the parliament also approved a government-proposed amendment to Article 8, which governs the provision of alternative housing for affected tenants. The amendment stipulates that the original tenant may not be evicted from the rented unit before at least one year has passed since a suitable alternative housing option — chosen by the tenant — has been made available, if no agreement is reached with the landlord. Rent Increases in Residential Units: Rents for prime residential areas will increase by 20 times the current legal value, with a minimum of EGP 1,000. Moderate regions will see a 10-fold increase, with a minimum of EGP 400, and economic areas will see a minimum of EGP 250. Rent Increases in Non-Residential Units (Natural Persons): Rents will increase by five times the current value. Annual Increments: During the transitional period, all rents (residential and non-residential) will see an annual increase of 15 percent. Classification Committees: Committees will be formed in each governorate to classify residential areas into 'prime,' 'moderate,' and 'economic' based on geographical location, building quality, infrastructure, and available services. These committees are expected to complete their work within three months of the law's enactment. New Eviction Cases: Landlords can now seek eviction if a property has been closed for over a year without justification or if the tenant owns another usable unit for the same purpose. State-Provided Alternatives: Tenants affected by the law will have the right to request allocation of alternative housing or non-residential units by the state, either for rent or ownership. Priority will be given to vulnerable groups, particularly the original tenant, their spouse, and parents from whom the lease was extended. Opposition walks out in protest Opposition members, including those from the Justice, Tagammu, and Egyptian Social Democratic Parties, walked out of the parliamentary session in protest of the bill's approval. They released a statement declaring their 'disavowal' of the bill and condemning the government's refusal to amend its terms. The dissenting lawmakers, including prominent figures like Diaa El-Din Daooud and Abdel-Moneim Emam, expressed their failure to secure amendments that would have extended the transitional period and preserved the rights of original tenants and their families. They argued that the government exploited a Constitutional Court ruling, which only addressed rent value adjustments, to push through broader changes that affect legal centres not covered by the court's decision. 'We spared no sincere and honest effort, whether during committee discussions or in the general session, to preserve the stability of the nation and the integrity of the internal front and provide a legislative product that maintains the rights of landlords and tenants in a balanced manner,' the opposition statement read. They added that attempts to exclude original tenants, their spouses, and children from the termination of rental relationships were unsuccessful. Debate over transitional period length A primary point of contention was the proposed seven-year transitional period for residential units. Opposition members advocated for a longer period, with some suggesting 10 years and others 15, to provide more stability for tenants. MP Osama El-Masry proposed extending the period to 10 years, while MP Samira El-Gazzar suggested 15 years. Meanwhile, MP Hany Abaza criticized the explanatory memorandum for lacking clear justifications for the chosen transitional periods. 'I cannot find anything in the explanatory memorandum that tells me why five or 10 years; the article is set in a random manner. A disciplined scientific programme must be followed,' he stated. MP Sahar Bashir recounted a call from a tenant offering to sell a kidney to buy an apartment, highlighting the dire situations some tenants face. 'The law has stirred up a stagnant issue, and landlords hold a stick over tenants,' she said. However, the government remained firm regarding the seven years, resulting in the opposition's withdrawal from the session after Article 2 of the bill, which outlines the transitional period, was passed. The new law is expected to significantly impact millions of Egyptians who live in properties under the old rent system, which has been in place for decades with extremely low rents for long-term tenants. Follow us on: Facebook Instagram Whatsapp Short link:
Egypt Independent
24-02-2025
- General
- Egypt Independent
Zahi Hawass responds to claims he has damaged ancient statue during excavation work
Members of the Egyptian House of Representatives submitted a request to the Speaker of the House, Hanfy Gebaly, demanding a briefing on the reported destruction of a ancient statue in the Saqqara tourist area and holding the archaeological team at work responsible for it. This came after a video spread on social media announcing a major archaeological discovery in one of the Saqqara tombs, as this statue dates back to the era of the Fifth Dynasty of the Old Kingdom, approximately 4,300 years ago. Egyptian archaeologist Zahi Hawass spoke with Al-Masry Al-Youm about the truth behind the incident. Hawass said that the recently discovered statue was in a closed niche, and as an archaeologist, it was necessary to extract it as part of the mission's work. 'I removed the stones that were around the statue, and some of the gypsum that was around it fell off, along with a small piece of the white kilt that the statue was wearing.' 'We restored the small piece that fell from the statue. The matter is completely over and the statue was not damaged at all,' Hawass assured. 'I have been working in excavations for 50 years,' he explained adding that such things happen during archaeological discoveries. 'Howard Carter destroyed many artifacts while removing Tutankhamun's mask,' Hawass noted. Edited translation from Al-Masry Al-Youm
Egypt Today
23-02-2025
- Politics
- Egypt Today
Egypt's House approves moral, ethical compensation for wrongful pretrial detention
CAIRO – 23 February 2025: The Egyptian House of Representatives (the lower house of parliament) led by Speaker Hanafi Gebali, on Sunday, approved moral and ethical compensation for wrongful pretrial detention during its general session tomorrow, Sunday, as part of the draft Criminal Procedures Law. The newly-approved amendments to the law require the Public Prosecution to publish, at the government's expense, every final ruling that acquits a person previously detained in pretrial detention, as well as every order stating there is no reason to file a criminal case against them. This will be done in two widely circulated daily newspapers, aiming to provide moral compensation for the harm caused by wrongful pretrial detention. Article 523 of the draft law stipulates that anyone detained in pretrial detention is entitled to compensation under the following conditions: · If the crime is punishable by a fine or a misdemeanor punishable by imprisonment for less than one year, and the accused has a fixed and known residence in Egypt. · If a final order is issued stating there is no reason to file a criminal case due to the invalidity of the incident. · If a final judgment acquits the person of all charges based on the fact that the incident is not punishable, is incorrect, or for any other reasons other than invalidity, doubts about the validity of the accusation, or reasons for permission, exemption from punishment, pardon, or abstention from responsibility. In all cases, the State Treasury will bear the compensation costs. However, the person seeking compensation must not have been detained in pretrial detention or served a custodial sentence pending the case or other cases for a period equal to or longer than the period of pretrial detention or sentence for which compensation is being requested.
