MAR 28, 2024 JLM 79°F 04:39 PM 10:39 AM EST
The Saudi-Emirati race to own lucrative properties in Egypt

At a time when Egypt's economy is suffering from a decrease in direct investment and the smuggling of hot money, the regime of Abdel-Fattah al-Sisi seeks to solve the increasingly serious debt payment crises by handing over the country's assets to its "friends" in the Gulf.

Companies from the Emirates and Saudi Arabia are taking advantage of the weak state of the Egyptian economy due to Sisi's continued failure, and seek to penetrate the Egyptian market and hunt for "profitable treasures", without actually investing in the Egyptian economy.

In about a month, the United Arab Emirates made about 14 acquisitions, proposals and a desire to merge important Egyptian companies in various sectors, from the beginning of July 2022 to the beginning of August 2022.

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Patsy Webb 15:01 20.08.2022
Egypt beware of strangers bearing gifts
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