Amr in Lebanon

In a June 22, 2005 story on Zawya, Amr gets mentioned for his Lebanese real estate transaction. Quoted here is the Introduction to the article (see link at end)

"There is a much-publicized belief that the whole country is being sold off to foreigners in small and not so small parcels of land, leaving ever-declining opportunities for the domestic population to get into the property market. Although it makes for spectacular headlines and provides ammunition for a political attack on the proponents of opening up ownership to non-Lebanese, it is a charge based more on envy than reality. High profile and high priced purchases in the downtown area, such as those by singer Amr Diab and a senior adviser to King Fahd, tend to distort the picture. It is certainly true that foreigners, especially Gulf Arabs, are significant buyers in the luxury market but the fact is that fewer than half the Lebanese own their own property anyway."

Read the whole story here:
Lebanon: The Property Market - Zawya.com | Middle East Business News