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.

CairoScene Team VIEW ALL ARTICLES BY CairoScene Team

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.

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