President Abdel Fattah El Sisi on Sunday issued a new legislation amending some provisions of law no. 7 of 1991 on state property.

The new legislation, published in the official Gazette, followed the parliament's approval of the new amendments. 

The new provisions provide that the president shall, after the approval of the cabinet, define areas for land reclamation projects and locations of new urban communities, tourist areas or industrial development zones. 

Also, upon the decree, the General Authority for Rehabilitation Projects and Agricultural Development shall manage, utilize and dispose at the lands allocated for reclamation and aquaculture projects. 

The New Urban Communities Authority is entitled to manage, utilize and dispose at the lands allocated for the new urban communities’ projects, according to the law. 

The new provisions state that the General Authority for Industrial Development will manage, utilize and dispose at the lands allocated for the industrial development projects. 

"The earnings of the General Authority for Rehabilitation Projects and Agricultural Development, the New Urban Communities Authority and the General Authority for Industrial Development shall be deemed public funds", the new legislation read.

Source: MENA