17,000 Pakistanis own property worth $11bn in Dubai

Dubai leaks reveal Zardari and Musharraf’s properties,

Bilawal Bhutto Hussain Nawaz, Faisal Farah Gogi, Sher Afzal Marwat.  among those named in leaks.

Dubai/Islamabad(Webdesk) 17,000 Pakistanis own property worth $11bn in Dubai

The list includes political figures, globally sanctioned individuals, alleged money launderers and criminals. Pakistanis have also been identified on the list and their combined value has been estimated at around $11 billion.

The project — ‘Dubai Unlocked’ — is based on data that provides a detailed overview of hundreds of thousands of properties in Dubai and information about their ownership or usage, largely from 2020 and 2022. Properties purchased in the name of companies and those that are in commercial areas are not part of this analysis.

A collaborative investigative journalism initiative has unveiled the property ownership of influential figures worldwide in Dubai.

Named ‘Dubai Unlocked’, the project relies on data offering an extensive insight into hundreds of thousands of properties in Dubai, along with details regarding their ownership or utilization, primarily spanning the years 2020 to 2022.

Pakistani nationals are also among those listed, with their collective property holdings estimated at approximately $11 billion.

The revelation includes approximately $400 billion worth of properties owned by non-residents, including $11 billion worth of properties owned by Pakistanis.

The “Property Leaks” expose the names of several political figures, government officials, and retired civil servants from around the world. Among them, Pakistanis own $11 billion worth of properties in Dubai, making them the second-largest group of non-residents purchasing properties in the city.

According to the “Property Leaks”, 17,000 Pakistanis have bought 23,000 properties in Dubai. Indian citizens lead among non-residents purchasing properties in Dubai, with 29,700 Indians owning 35,000 properties in the city.

Zero tolerance’ towards embezzling nation’s money, Irfan Qadir

Additionally, there are 19,500 British citizens who own 22,000 properties in Dubai. The total value of properties purchased by British citizens in Dubai amounts to $10 billion. At least 8,500 Saudi citizens have bought 16,000 properties in Dubai, totaling over $8 billion.

Bilawal Bhutto, Mohsin Naqvi, Sharjeen Memon, Sher Afzal Marwat, Faisal Vawda speak after exposé.

In response to these revelations, comments from PPP Chairman Bilawal Bhutto Zardari, Interior Minister Mohsin Naqvi, PPP leader Sharjeen Inam Memon, PTI leader Sher Afzal Marwat and Senator Faisal Vawda have emerged.

Zulfiqar Ali Badar, the spokesperson for former foreign minister Bilawal Bhutto Zardari, asserts that the national and international assets of Bilawal and Aseefa Bhutto are declared with the Election Commission of Pakistan (ECP) and the Federal Board of Revenue (FBR).

Badar says that during Benazir Bhutto’s exile in Dubai, her children, Bilawal and Aseefa, resided in these properties, which were inherited by them after her death.

He emphasises that the details of Bilawal and Aseefa’s properties in Dubai are already public, so there is nothing new or illegal in the disclosure. He adds that any defamation-based actions will be contested in the appropriate forums.

Interior Minister Mohsin Naqvi asserts that the properties purchased in the name of his spouse in Dubai were declared properly. He states that these properties were also disclosed in tax returns.

He also mentions that one property was sold a year ago, with another property purchased using the proceeds a few weeks later.

Sindh Minister Sharjeel Inam Memon affirms that the properties mentioned in Dubai are already declared and known to the public.

He says that these properties are declared with the ECP and relevant tax authorities. He notes that he submits these details in the asset and property declaration form every year.

PTI leader Sher Afzal Marwat has confirmed his ownership of an apartment in Dubai. He specifies that this apartment has been registered and declared with the FBR and Election Commission of Pakistan for the past six years.

17,000 Pakistanis own property worth $11bn in Dubai,

He says that its status can be verified through the FBR. He says he has also declared it in his nomination forms in 2018.

Senator Faisal Vawda states that his property in Dubai is declared. He points out that whenever a valuable car or property is mentioned, his name tops the chart. Vawada however expresses his objection to the timing of the property leaks.