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DUBAI: About 400 billion dollars’ worth of properties of foreigners have been revealed in Dubai, including properties of Pakistanis worth 11 billion dollars.
“Property Leaks” includes the names of many World political figures, government officials and retired government officials. Pakistanis’ own properties worth 11 billion dollars in Dubai, Pakistanis are the second most foreign buyers of properties in Dubai.
Property leaks have revealed that 17,000 Pakistanis have bought 23,000 properties in Dubai.
A joint investigative journalism effort uncovered the ownership of high-value properties in Dubai by prominent figures from around the world.
Owners include political figures, persons under international sanctions, suspected money launderers and criminals.
What is the ‘Dubai Unlock’ project?
Dubbed ‘Dubai Unlocked’, the project is based on extensive data detailing millions of properties in Dubai with information on their ownership or occupancy. The data set mainly covers the years 2020 and 2022, excluding properties registered under corporate entities and properties located in commercial zones from the analysis.
The data was obtained by the Center for Advanced Defense Studies (C4ADS), a non-profit organization headquartered in Washington, DC. Subsequently, it was shared with Norwegian financial publication E24 and the Organized Crime and Corruption Reporting Project (OCCRP), which led a comprehensive six-month investigation involving journalists from 74 media outlets in 58 countries.
The extensive inquiry revealed a number of people with criminal convictions, fugitives, and prominent political figures who have recently held properties in Dubai.
How many Pakistanis own properties in Dubai?
Pakistanis are also among those identified, with a combined net worth estimated at $11 billion. The research report shows that 17,000 Pakistanis own 23,000 properties in Dubai, which is about 2.5 percent of the total property worth $389 billion.
Names of Pakistanis who own properties in Dubai
Among the Pakistanis identified in the property leaks are Hussain Nawaz Sharif, three children of President Asif Ali Zardari, Sharjeel Memon, spouse of Interior Minister Mohsin Naqvi, Senator Faisal Vawda along with his family, four members of the National Assembly. (MNA), and about half a dozen Members of Provincial Assembly (MPA) from Sindh and Balochistan. PTI leaders Sher Afzal Marwat and Farah Gogi also have properties in Dubai.
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Additionally, the list includes late General Pervez Musharraf, former Prime Minister Shaukat Aziz, more than a dozen retired generals, a police chief, an ambassador and a scientist. All these individuals have acquired properties either directly or through their spouses and children.
How many Indians own properties in Dubai?
Indians top the list as 29,700 Indians own 35,000 properties in Dubai with a total net worth of $17 billion. Commercial and residential properties purchased in the name of companies are not included in this list.
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