Pakistani Super Rich's Multibillion-Dollar Property Ownership in Dubai Exposed in Report
A recent report titled “Dubai Unlocked” has revealed that Pakistanis collectively own properties valued at approximately $11 billion (Rs. 30 trillion) in Dubai. This revelation is based on leaked property data obtained by an international investigation into real estate ownership in Dubai.
The investigation, conducted under the “Dubai Unlocked” project, utilized property records from various data leaks, primarily sourced from the Dubai Land Department and publicly owned utility companies. These leaks, spanning mostly from 2020 to 2022, offer detailed insights into hundreds of thousands of properties in Dubai, including information about their ownership or usage.
The leaked data was obtained by the Center for Advanced Defense Studies (C4ADS), a Washington, D.C.-based non-profit organization specializing in researching international crime and conflict. Subsequently, the data was shared with Norwegian financial outlet E24 and the Organized Crime and Corruption Reporting Project (OCCRP), which coordinated an investigative effort involving numerous media outlets worldwide.
According to the leaked data, approximately 17,000 Pakistanis, including prominent politicians, businessmen, and retired generals, own a total of 23,000 residential properties in Dubai. Among those listed in the leaks are the children of former President Asif Ali Zardari, Hussain Nawaz Sharif, the wife of Interior Minister Mohsin Naqvi, Sharjeel Memon and his family members, Senator Faisal Vawda, four MNAs, and several MPAs from the Sindh and Balochistan assemblies.
The report also highlights that Indians rank first among foreigners owning properties in Dubai, with around 29,700 owners and 35,000 properties, followed by Pakistanis, United Kingdom nationals, and Saudi nationals.
It’s important to note that mere inclusion in the leaked data does not imply evidence of financial crime or tax fraud. Several individuals approached for comment on their properties stated that they were duly declared to tax authorities, as reported by Dawn, which, along with The News, participated in the investigative project.
