HomeBusinessExposed to new financial scandal 'Dubai Unlocked', Pakistani citizens own properties worth...

Exposed to new financial scandal ‘Dubai Unlocked’, Pakistani citizens own properties worth 12 billion dollars in Dubai alone.

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Dubai (Web Desk) Several years after the Panama Leaks, another financial scandal has been revealed in the name of ‘Dubai Unlocked’ regarding the details of the secret wealth of world leaders, politicians and other powerful people.

The details were released in the form of a data leak by the Organized Crime and Corruption Reporting Project (OCCRP), another investigative consortium modeled after the International Consortium of Investigative Journalists (ICIJ).

According to Dubai Unlocked, some of the world’s richest people have properties worth billions of dollars in Dubai, most of which are allegedly hidden to avoid tax.

The owners of these properties are said to be the most powerful people in Russia.

According to Dubai Data Leaks, those allegedly hiding properties in Dubai include people from other countries including Pakistan.
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17,000 Pakistani nationals have been revealed as residential property owners in Dubai in the Dubai Data Leaks.

In the data, the total investment by Pakistanis in the real estate sector is estimated at 12.5 billion dollars.

The names of politicians, the media, big businessmen and military officers have also been included in the Dubai Leaks.

The report also shows that Pakistan ranks fourth in buying and selling residential property in Dubai in the global investment list.

The data lake revealed Pakistanis as property owners in Dubai’s most expensive areas, including Dubai Marina, Emirates Hills, Business Bay, Palm Jumeirah and Al Barsha.

The data leaks do not include evidence of properties bought with money from financial crimes, or information such as sources of income, rents, tax returns, etc.

However, political pundits believe that in such a situation where on one hand Pakistan hopes for help from other countries including the International Monetary Fund (IMF) to save the sinking economy, on the other hand, Pakistanis who n owning hundreds of large properties the name of the country comes up, there may be confusion in the politics and situation of the country.

Journalists from 74 media outlets in 58 countries, including Dawn, took part in the 6-month global research led by OCCRP and Norwegian outlet ‘E-24’.

India ranks first in the number of expatriate properties in Dubai with 29,700 owners owning 35,000 properties.

According to 2022 data, the property value of Indians in Dubai is 17 billion dollars.

Similarly, 17 thousand owners with Pakistani citizenship have 23 thousand properties in Dubai. 19,500 British citizens own 22,000 properties in Dubai worth $10 billion.

8,500 Saudi citizens own 16,000 properties in Dubai worth 8,500 billion dollars.

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