Pakistani nationals own property worth approximately $11 billion in Dubai.
According to a report on The News and Geo News by Umar Cheema, which reviews detailed data on numerous properties in Dubai. This analysis is part of the OCCRP’s ‘Property Leaks’ story but does not specifically concentrate on Pakistanis, who hold less than 2.5% of the total $389 billion in property value.
A global investigative journalism initiative has disclosed details of property ownership in Dubai involving global elites, including politicians, sanctioned individuals, and those accused of money laundering and criminal activities. Pakistanis on this list are estimated to have around $11 billion in properties.
The project, titled ‘Dubai Unlocked’, draws from data spanning 2020 to 2022. It extensively reviews property ownership in Dubai, excluding properties bought under company names or in commercial zones.
The data was initially collected by the Washington, DC-based non-profit Centre for Advanced Defence Studies (C4ADS) and subsequently shared with the Norwegian financial outlet E24 and the Organised Crime and Corruption Reporting Project (OCCRP). A six-month investigative collaboration followed, involving journalists from 74 media outlets across 58 countries. The collaboration revealed numerous individuals who owned property in Dubai, including convicted criminals, fugitives, and political figures. Pakistani partners in this project included The News and Dawn.
Prominent Pakistanis identified in the Property Leaks include Hussain Nawaz Sharif, President Asif Ali Zardari’s three children and Interior Minister Mohsin Naqvi’s wife. Senator Faisal Vawda and members from the Sindh and Balochistan assemblies are also listed, with properties tied to them either directly or through family members. Historical figures such as the late Gen Pervez Musharraf and former prime minister Shaukat Aziz are also listed, with properties tied to them either directly or through family members.
In 2018, President Zardari updated his wealth statement to include a foreign property gifted to him, which he later transferred. According to Property Leaks data, Abdul Ghani Majid, who co-accused Zardari in a fake accounts case, was revealed to have gifted Zardari a penthouse in Dubai.
Other Pakistanis listed include Aslam Masood of Omni Group and Sohrab Dinshaw. Questions were sent to everyone listed except the deceased Masood, but none responded.
The Altaf Khanani network, sanctioned by the US for money laundering, also appears in the list, with several family members owning properties in Dubai.
The leaks revealed that Mohsin Naqvi’s wife, the Interior Minister and Chairman of the Pakistan Cricket Board, owned a property in Dubai, which was not declared in recent Senate election nomination papers. According to The News, she owned a five-bedroom villa in Arabian Ranches until April 2023, generating significant rental income.
Economists and reporters analyzing the data concluded that Indian nationals own the most residential properties in Dubai, followed by Pakistanis, UK citizens, and Saudis. Pakistani owners hold an average property value of $0.41 million.
The data includes detailed identifiers for each property, although journalists disclosed names only when it served the public interest, such as in cases of crime or corruption. Ownership verification efforts involved extensive checks using various data sources, including Dubai’s land registry and real estate transaction records.
