Egypt Ranks #2 In Arab Real Estate Investment In Dubai

Not content with Egypt's burgeoning satellite city scene, Egyptians seem to be pumping money into Dubai real estate.

Staff Writer VIEW ALL ARTICLES BY Staff Writer

Date
25/07/2016 07:20

According to Egypt Independent, Egypt is the second biggest Arab purchaser of real estate in Dubai in 2016 with 710 Egyptian nationals spending a total of 1.4 billion AED.

They were only beaten by the Jordanians, who spent 1.5 billion AED, Egyptians are followed by the Lebanese with just over one billion AED invested.

According to a statement made Sunday by the Dubai Land Department, out of the 57 billion AED flooding Dubai’s real estate market, 22 billion AED of it is from the Emirates and GCC nationals and 28 billion is from another 127 countries including India with more than seven billion AED.

Citizens of the UK came in second overall with four billion AED and Pakistanis third with over three billion AED.

TRENDING LATEST surprise me

Week Month Year

Masr Afdal: Online Platform Championing Egyptian Products Worldwide

StartupScene speaks to Hamed El Ghool, the founder of a platform that is putting Egypt on the global e-commerce map by connecting [...]

Emirates NBD’s E20. & MoniMove to Offer SMEs Innovative Solutions

The collaboration is aligned with Emirates NBD’s digital strategy as the bank continues to lead the region in digital banking innovation [...]

SPARK and Integrated Dawiyat to Advance Industry 4.0 Technology

King Salman Energy Park are looking to integrate cutting-edge Industry 4.0 technologies and innovations into their city through their [...]

Serenity & Self Reflection with Ahimsa Yoga's Ramadan Sessions

Ahimsa Yoga is a tranquil health and wellness spot by the Nile offering yoga sessions throughout Ramadan, as well as arts workshops, [...]

7 Cairo Stores for Crystal Clarity

Whether you believe crystals have healing powers, positive energies, or are just pretty to look at, we've found the hottest Cairo shops to [...]

New Riyadh Techstars Accelerator Targeting Startups from Across MENA

Launched in collaboration with KSA’s Ministry of Communications & Information Technology, applications open in May. [...]

'Vision' Cultural Initiative to Translate Book About Churches & Islam

As part of a national cultural initiative called 'Vision in Foreign Languages', the Ministry of Awqaf is releasing a translation of one of [...]

Sandbox's New Collection Celebrates Nature's Power

SANDBOX Jewelry’s latest collection ‘Vivid’ envisions a future without the interference of man-made chaos. [...]

Egyptian-Italian Fabio Abraham to Play Gamal Abdel Nasser in CNN Docu-Drama

An all-new CNN docu-drama ‘Jerusalem’, which will be centred around the history of the ancient city, will feature Egyptian-Italian actor [...]

South Sinai Hospitals and Isolation Units Are Now Cleared of Coronavirus Cases

The Ministry of Health has declared that the last two Coronavirus patients have been discharged from Nuweiba Central Hospital after [...]

Egypt Orders All Airports to Relocate Hazardous Goods Following Beirut Explosion

After the devastating events of the Beirut explosion, the Ministry of Civil Aviation has ordered all Egyptian airports to move hazardous [...]

Abuse Relief Aide is the New Network of Specialists Providing Free Support to Sexual Abuse Victims

Founder of What Women Want magazine May Abdel Asim, alongside founder of the Safe Kids foundation Sara Aziz, have recognized a gap in [...]

Longhorn Is Formet Sahel Ready With New Seaside Branch at Diplo

Buckle up, Longhorn’s bringing mouthwatering Texas BBQ to Sahel this summer. [...]

Shawerma Meets Taco Bell's Iconic Crunchwrap Supreme in TikTok Recipe

Stop what you’re doing, someone has just combined the Taco Bell Crunchwrap Supreme with shawerma and we’re losing our minds. [...]

'Etkalem Arabi' Initative to Launch New Mobile App

The initiative teaching Egyptian expats and children how to speak in Arabic will soon have its own app, in addition to their current run of [...]

Egyptian Architects Win UNESCO Bid to Rebuild Iraq's Al-Nouri Mosque

The global competition was part of UNESCO's “Revive the Spirit of Mosul” project, which is dedicated to the rehabilitation of Iraq's [...]

Select 132: Mixed by Kareem Tarek

For the 132nd edition of the SceneNoise Select series, 27 year-old Cairo-based DJ, Kareem Tarek. [...]

212 Thug Drops Massive 50-Track Album of Mashups, Bootlegs & Remixes

An incredible eight years of unreleased work have gone into ‘Tear Da Mash Up 2013-2021’ from the Moroccan. [...]

Loolipops Is the Brand That Cares About Cake Pops and Only That

They’re basically specialists at cute chocolatey-oowey-gooey tiny mini cake pops. [...]

Iftar or Sohour on a Pharaonic Boat in the Nile Is Ramadan Goals

Ramadan like an Egyptian! [...]