After Turkey..Egypt is an investment and living arena for the Yemeni Brotherhood

English - الخميس 04 أغسطس 2022 الساعة 11:22 ص
Cairo, NewsYemen, private:

Turkey is no longer only the arena for the investments of the Yemeni Brotherhood, as the statistics on real estate ownership and the movement of investments speak of, but Egypt has also turned into another arena in which the Brotherhood's money moves with remarkable and great activity.

As did the brothers of Sudan who found real estate investment inside Egypt a suitable space to preserve and develop their money without revealing these moves, the brothers of Yemen repeat the same approach and go to hide their money behind extensive real estate investments.

The Brotherhood of Taiz, Shabwa and Marib top the list of Brotherhood presence in Egypt, as they own a network of experts and specialists in the real estate trade, made up of Yemenis and Egyptians, who provide new investors with legal advice and everything they need to obtain suitable opportunities.

NewsYemen investigated part of the Yemeni Brotherhood's investment activity and movements in Egypt, which is an exodus of funds from inside Yemen since 2013, as indicated by the information that was investigated.

The Yemeni Brotherhood’s holdings of apartments in Cairo were divided between an individual side and an organized side, and it follows military and non-military Brotherhood leaders who collectively owned several towers and apartments in multiple partnerships.

According to the information obtained by NewsYemen, the movements of the Yemeni brothers recently reached the administrative capital, where they owned hundreds of apartments, offices and shops that are still under preparation in the most important and prestigious cities of Egypt that are under construction and close to completion.

The Brotherhood is also intensifying its ownership of real estate in the Faisal neighborhoods, which includes the largest Yemeni and Sudanese community, as well as the Dokki neighborhood, which is a stronghold for the presence of Yemenis as well.

In addition to the investment part of the Brotherhood, there is also the purchase and ownership of apartments for housing and stability, as many of the brothers of Taiz and the leaders of the first and second ranks of the military moved their families to Egypt to study and live, and they visit Egypt from time to time.

Many of the Brotherhood’s military leaders are working to liquidate most of what they obtained and looted of real estate and property in Taiz, Shabwa, Ma’rib and other governorates and transfer them to Egypt to buy real estate, apartments, shops and offices in the new cities.

According to the sources, banks in the Houthi areas provide facilities for transferring Brotherhood funds to Egypt in exchange for shares for these banks, which provide a legal cover for the possession of money by the beneficiary.

The sources confirmed that many of the Brotherhood leaders in the Houthi areas carried out sales of properties and real estate and transferred these funds to Cairo and Turkey to buy real estate in the two countries, invest and move completely after the transfer of these funds.