The law banning Jews from purchasing land in Israel may have been around long before 1994.
In 1973, PA legislators passed a law similar to Jordanian law, imposing the death penalty on Palestinians for selling land to Israeli Jews. A shadowy force known as "The Long Arm," was specifically tasked with tracking down and executing Palestinians living anywhere in the world who sold land to Israeli Jews.
http://www.meforum.org/370/can-arabs-buy-land-in-israel
With close personal acquaintances like PLO spokesman Rashid Khalidi, should one really be surprised with Obama’s policy towards Israel….
Edited to add:
Why? - The Qur'an teaches that if a land was ever occupied in the past by Muslims, then it must be recovered by Jihad.....
“The (ARAB) Palestinian people does not exist. The creation of a Palestinian state is only a means for continuing our struggle (JIHAD) against the state of Israel for our Arab unity. In reality today there is no difference between Jordanians, Palestinians, Syrians and Lebanese. Only for political and tactical reasons do we speak today about the existence of a Palestinian people, since Arab national interests demand that we posit the existence of a distinct "Palestinian people" to oppose Zionism”
-Zahir Muhsein, PLO executive committee member March 31, 1977-