Revealed: $647m worth of private jets for sale in the MidEast

New research shows 11% of region’s owners are looking to sell their jets
(Getty Images)
By Lubna Hamdan
Sun 08 Nov 2015 04:22 PM

New research from Global Jet Capital, a provider of financing solutions for private jets, has revealed that there are 62 private jets, worth $647 million, for sale in the Middle East.

According to the firm, 47 of the aircrafts are registered in Saudi Arabia and the UAE, with the remainder spread across the Middle East.

The survey has revealed that there is a total of 559 mid-to-large-sized private jets in the region, meaning that around 11 percent of those planes are currently on sale in the market.

In line with the new outcomes, Global Jet Capital is offering its clients around $1 billion to purchase relevant business aircrafts in the Middle East and around the world.

The firm stated that growth in the sale of such jets in the region is to be expected as many private jet owners are looking to upgrade to a more modern aircraft.

The company has also revealed that it expects a surge in first-time buyers as the area’s wealth increases.

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