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Report Reveals Pakistan’s Super Rich Own Billions of Dollars Worth of Property in Dubai

Report Reveals Pakistan’s Super Rich Own Billions of Dollars Worth of Property in Dubai

The “Dubai Unlocked” report has unveiled a staggering revelation, suggesting that Pakistanis collectively own properties valued at an estimated $11 billion (Rs. 30 trillion) in Dubai. This groundbreaking investigation, conducted by the Center for Advanced Defense Studies (C4ADS), scrutinized leaked property data from various sources, including the Dubai Land Department and public utility companies.

The data, shared with Norwegian financial outlet E24 and the Organized Crime and Corruption Reporting Project (OCCRP), paints a detailed picture of property ownership in Dubai, spanning from 2020 to 2022. Notably, the investigation identified 17,000 Pakistanis, including notable figures such as politicians, businessmen, and retired generals, as owners of 23,000 residential properties in Dubai.

Among the prominent Pakistanis listed in the leaks are the children of former President Asif Ali Zardari, Hussain Nawaz Sharif, Interior Minister Mohsin Naqvi’s wife, Sharjeel Memon and his family, Senator Faisal Vawda, as well as several members of the Sindh and Balochistan assemblies.

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However, it’s crucial to note that inclusion in the leaked data does not necessarily imply involvement in financial crimes or tax evasion. Many individuals approached for comments on their properties asserted that they had duly declared them to the tax authorities.

The report also sheds light on property ownership trends in Dubai, revealing that Indians top the list of foreigners owning properties, followed by Pakistanis, United Kingdom nationals, and Saudi nationals.

While the leaked data raises eyebrows and prompts scrutiny, it underscores the importance of transparency and compliance with tax regulations. As investigations continue and authorities delve deeper into the matter, transparency and adherence to legal frameworks will remain paramount.