A groundbreaking international investigative journalism initiative, dubbed ‘Dubai Unlocked,’ has brought to light the extensive property holdings of global elites, including political figures, individuals under global sanctions, alleged money launderers, and criminals, in Dubai. Among those implicated are several prominent Pakistani personalities, with an estimated combined property value of approximately $11 billion.
The investigative endeavor, spearheaded by the Centre for Advanced Defence Studies (C4ADS), a non-profit organization based in Washington, DC, collaborated with Norwegian financial outlet E24 and the Organised Crime and Corruption Reporting Project (OCCRP). Over a six-month period, reporters from 74 media outlets across 58 countries worked tirelessly to analyze data detailing hundreds of thousands of properties in Dubai, focusing primarily on ownership and usage information from 2020 and 2022.
Partnerships with leading Pakistani newspapers such as The News and Dawn facilitated the inclusion of Pakistani stakeholders in the investigation. The findings unveiled a staggering list of individuals with connections to Pakistan, including the offspring of former President Asif Ali Zardari, prominent businessmen, politicians, and even convicted criminals.
Key figures among the Pakistani contingent include Hussain Nawaz Sharif, offspring of former Prime Minister Nawaz Sharif, as well as Interior Minister Mohsin Naqvi’s wife. Notable military personnel, such as retired generals and high-ranking officials, were also found to have acquired properties either directly or indirectly through family members.
One significant revelation involves the late General Pervez Musharraf, former Prime Minister Shaukat Aziz, and a cadre of retired generals, along with various other public officials, owning properties in Dubai. Additionally, the network of Abdul Ghani Majid, a business magnate embroiled in the fake accounts case alongside Zardari, surfaced prominently in the investigation, exposing illicit property transfers.
The investigative team uncovered instances where individuals failed to declare their Dubai properties in official disclosures, raising questions about potential financial impropriety and conflicts of interest. Interior Minister Mohsin Naqvi’s wife, for instance, was found to possess a lavish villa in Dubai, which was not disclosed in her husband’s recent nomination papers for the Senate election.
Further scrutiny revealed discrepancies in property declarations, such as Naqvi’s wife’s acquisition of another property in Dubai in January, not mentioned during her husband’s Senate candidacy. Despite facing inquiries from media partners involved in the investigation, individuals implicated in the property leaks have largely remained silent or evasive.
The comprehensive data analysis highlighted India’s dominance in foreign property ownership in Dubai, followed closely by Pakistan, the United Kingdom, and Saudi Arabia. The investigation underscores the urgent need for transparency and accountability in global real estate markets, particularly concerning the ownership of high-value assets by individuals with ties to corruption, crime, or political power.
Journalists involved in the project rigorously verified the identities of property owners and their ownership status, utilizing a variety of sources, including official records, open-source research, and additional leaked datasets. Dubai’s official land registry played a pivotal role in confirming current ownership status, although challenges arose in cases where properties had recently changed hands.
In the wake of these revelations, calls for greater transparency and regulatory oversight in Dubai’s real estate sector are likely to intensify, as authorities grapple with the implications of unchecked foreign property ownership by individuals with controversial backgrounds.
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