White House Mideast team holds talks with Jordanian king

King Abdullah of Jordan (L) and Jared Kushner. (AFP)
Updated 20 June 2018
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White House Mideast team holds talks with Jordanian king

  • The US has been trying to rally support for projects to rescue Gaza’s economy, which has been weakened by an Israeli-Egyptian blockade, while continuing to isolate Hamas
  • Jared Kushner’s team plans stops in Israel, Egypt and Saudi Arabia. No talks with the Palestinians are scheduled, though the Americans have left the door open to meeting with them

AMMAN: President Donald Trump’s senior adviser and son-in-law, Jared Kushner, kicked off a swing through the Middle East on Tuesday, meeting with Jordan’s king as part of a broader effort to lay the groundwork for an expected Israeli-Palestinian peace plan.

Kushner and White House envoy Jason Greenblatt held talks with Jordan’s King Abdullah, a key US ally.
A White House statement said the talks focused on US-Jordan cooperation, the humanitarian situation in the Gaza Strip and the US efforts “to “facilitate peace between the Israelis and Palestinians.”
US officials have said their peace plan is near completion and could be released this summer. But it faces resistance from the Palestinians, who have cut off ties since Trump recognized contested Jerusalem as Israel’s capital last December and moved the US Embassy in Israel to the holy city last month. The Palestinians, who seek Israeli-annexed east Jerusalem as their capital, accuse the US of siding with Israel in the most sensitive issue of their decades-long conflict.
Kushner’s team also plans stops in Israel, Egypt and Saudi Arabia. No talks with the Palestinians are scheduled, though the Americans have left the door open to meeting with them.
The Palestinians seek all of the West Bank, east Jerusalem and Gaza Strip for an independent state. Israel captured the territories in the 1967 Mideast war. It withdrew from Gaza in 2005, and Hamas militants seized control of the territory two years later.
The US has been trying to rally support for projects to rescue Gaza’s economy, which has been weakened by an Israeli-Egyptian blockade, while continuing to isolate Hamas. The US, Israel and Western allies shun Hamas as a terrorist group. Details of the plan have not been released, but Palestinians fear they will get little more than a symbolic foothold in Jerusalem. They also fear that aid to Gaza will help strengthen Hamas’ control over the territory.
Jordan also has a stake in east Jerusalem, serving as the custodian of major Muslim and Christian shrines there. Jerusalem’s walled Old City, captured and annexed by Israel in 1967, is home to Muslim, Christian and Jewish holy sites.
Abdullah has also rejected Trump’s moves in Jerusalem. Israeli Prime Minister Benjamin Netanyahu refuses to relinquish any part of the city.
Netanyahu traveled to Amman on Monday for a surprise meeting with Abdullah, telling the king that Israel remains committed to the status quo of the holy sites in Jerusalem.
Abdullah told Netanyahu that the fate of Jerusalem must be determined in Israeli-Palestinian negotiations, and that a solution should be based on establishing a Palestinian state, with east Jerusalem as its capital, on lands Israel captured in 1967.
Palestinian officials fear the Trump administration plan will leave them with a mini-state in the Gaza Strip, parts of the West Bank and a foothold in Jerusalem. Palestinian leader Mahmoud Abbas has said he will reject any plan being floated by the Trump team, arguing that the US has forfeited its role as mediator because of decisions seen as pro-Israel.


Egypt offers residency to foreign investors

Updated 49 min 15 sec ago
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Egypt offers residency to foreign investors

  • A three-year residency is on offer for those who invest $200,000, and five years for those who purchase property worth $400,000
  • To begin the process for obtaining Egyptian residency, a preliminary contract must be agreed between the property owner and the foreign investor

CAIRO: In an attempt to further boost its booming real estate sector and attract foreign investment, Egypt will grant residency permits to foreigners who invest at least $100,000 in the country’s property market.
The growth rate of Egypt’s property market stands at 133 percent in 2018. This has been fueled by strong demand for housing, along with the sporadic launch of residential construction projects.
The minimum investment required to obtain a residency permit is $100,000. A three-year residency is on offer for those who invest $200,000, and five years for those who purchase property worth $400,000. The offer also applies to properties that are still under construction.
Khaled Abbas, the deputy minister of housing, said the procedures for the scheme are being set up in consultation with the Passport, Immigration and Nationality Administration.
To begin the process for obtaining Egyptian residency, a preliminary contract must be agreed between the property owner and the foreign investor, and then signed by an authorized body, such the Urban Communities Authority, the Tourism Development Authority or the governorate in which the property is located. Bank statements must also be provided confirming that the money has been transferred from overseas. The passport office will then approve the period of residence.
Members of the House of Representatives welcomed the announcement as a positive move for Egypt and an incentive for foreign investment, which it is hoped will create jobs and economic opportunities.
Whether the public will be so keen remains to be seen.
“This might be a bit problematic,” said Aly Salem, a resident of Cairo. “The housing demand in Egypt is already high, with the surging youth population and more and more people looking to get married each year. Where will they stay, if foreigners start swooping in and acquiring both residency and a huge housing unit with just $100,000?”
Offering further details, Gen. Kamel Amer, the head of the Parliament’s Defense and National Security Committee, said foreigners will not have any political rights for the first five years of residency and they will not be eligible to vote for 10 years. He also said spouses and children of investors will not be granted residency unless they live in Egypt.
Spain and Portugal have implemented similar programs in an attempt to boost their property markets. Previously, a foreigner had to live in Egypt for 10 consecutive years to be eligible for naturalization.
The new residency law is part of the efforts to repair the damage to Egypt’s economy caused by severe austerity measures imposed after the $12 billion loan package from the International Monetary Fund in 2016.
The cost and size of properties in Egypt, which are often large and lavish apartments, compare favorably to those in many other countries. Despite this, few Egyptians can afford to pay for a house upfront, but some private property developers are offering 10-year, interest-free installment plans.