Property leak Pakistani assets worth $12 billion in Dubai alone

Years after the Panama Spills Another leak called ‘Dubai Unlocked’ has revealed details of the secret wealth of world leaders, politicians and other powerful figures. Details International Consortium of Investigative Journalists (ICIJ) Crime Reporting Project and Corruption (OCCRP) published in the form of data leaks

As per ‘Dubai Unlocked’ details, the world’s top richest people have billions of dollars worth of assets in Dubai. It has been revealed that foreigners have assets worth $389 billion in Dubai. The owners of these properties are said to be some of the most powerful people in Russia.

According to Dubai Data Lakes, people who own real estate in Dubai include people from other countries, including Pakistan. In Dubai Data Lakes, 17,000 Pakistanis have been found to own residential real estate in Dubai. Total investment in the real estate sector has been estimated at $12.5 billion.

The report also shows that Pakistan is ranked fourth in the list of global investments in buying and selling residential properties in Dubai. Politicians, media, big businessmen. And military officials also mention Dubai. Data Lake reveals that Pakistanis own real estate in the most expensive areas of Dubai. Including Dubai Marina, Emirates Hills, Business Bay, Palm Jumeirah and Al Barsha.

The data leak does not include evidence of assets purchased with money from financial crimes or information such as source of income, rental fees, tax declarations, etc. However, political experts believe that in such a situation, on the one hand, Pakistan hopes for aid from other countries including the International Monetary Fund (IMF) to help salvage the sinking economy. On the other hand, Pakistanis, who have a lot of assets and have hundreds of assets.. there can be tension in the politics and situation of the country when Names are revealed

Journalists from 74 media outlets in 58 countries, including Dawn, participated in a six-month global study led by OCCRP and Norwegian media outlet ‘E-24.’ India ranks number one in the number of foreign-owned assets in Dubai. It has 35,000 properties owned by 29,700 owners. As of 2022, the value of Indian property in Dubai was $17 billion.

Pakistan is the second largest seller of residential property in Dubai globally and 17,000 owners of Pakistani nationality own 23,000 properties in Dubai. 19,500 British citizens own 22,000 properties in Dubai worth 10 billion. dollar