Egypt.. 1200 apartments for Yemenis in the administrative capital of the Republic of Egypt

English - الأحد 25 يوليو 2021 الساعة 06:26 م
Aden, NewsYemen, Exclusive :

Private sources confirmed to NewsYemen that there has been a significant increase in the number of properties recently purchased by Yemenis, specifically in the New Administrative Capital, 60 km from Cairo.

According to the sources, 1,200 apartments were recently purchased only in two adjacent residential blocks, and that a Bharat businessman alone bought more than 70 apartments.

Real estate in the administrative capital is added to the continuous purchase in Cairo, including residential and investment, such as the Fifth Settlement, Sheikh Zayed and Madinaty.

The war that broke out in late 2014 in Yemen due to the Houthi militia, prompted many capitals to migrate to more than one country and capital, including Cairo, Oman, Jordan, Turkey, Malaysia and the Sultanate of Oman.

Egypt ranks among the countries most welcoming to Yemenis fleeing the war in Yemen, since the Houthi militia invaded Sanaa and the governorates in 2014.

Last year, economic reports said that the total real estate purchased by Yemenis in Egypt reached about 50,000 residential properties, during the last five years, 80% of them were apartments.

Economists estimate the amounts that Yemenis have spent on buying real estate abroad, during the past five years, at 360 million dollars, at a rate of 60 to 50 thousand dollars per property, a very large number that could have worked for dozens of cities and housing units in Yemen.

It should be noted that the number of the Yemeni community in Egypt exceeded one million, most of whom have become stable as a result of the ongoing conflict in Yemen.