30,000 Indians own properties in Dubai : Report by ‘Dubai Unlocked’

Pakistani politicians and Army officers also own properties in Dubai

Abu Dhabi (UAE) –  On 14th May 2024, a global investigative journalism report titled ‘Dubai Unlocked’ revealed that Indians own the maximum number of properties in Dubai, followed by Pakistanis. As per the statistics in the report, 29,700 Indians purchased property in Dubai and own 35,000 properties worth Rs 1,41, 000 crore, i.e. about USD 17 billion.

While Pakistan is facing economic hardships, there seems to be no dearth of rich people. Pakistanis own luxurious bungalows in Dubai. They own properties in Dubai valued at USD 11 billion, i.e. about Rs 91,800 crore. 17,000 Pakistanis own 23,000 properties in Dubai. The report includes data for 2020-22.

There has been a huge hike in the real estate business during the last decade in Dubai. This report says that people accused in money laundering cases and facing global restrictions have invested in property in Dubai. That, however, doesn’t mean that every investor in Dubai has black money. The report also clarifies that the inclusion of a name in this report, cannot necessarily be considered as proof of involvement in a financial scam. Black money is invested in New York and London as well but due to stringent laws there, people prefer Dubai to invest their black money in real estate.

Information from the #DubaiUnlocked report

Properties of 30,000 Indians in 3Dubai

Pakistani politicians and Military Officers also own a vast number of properties Since it is easier to invest black money in Dubai, as compared to the western countries, the possibility that… pic.twitter.com/GjSGkHHGDT

— Sanatan Prabhat (@SanatanPrabhat) May 16, 2024

Black Money Destroying Pakistan

Indian economy is 10 times bigger than Pakistan’s. If all the money invested in Dubai is considered to be black money, black money in Pakistan is 64% of India’s. It indicates the level of black money and corruption in Pakistan.

Names of Pakistanis mentioned in the report
1. President Asif Ali Zardari’s family
2. Late Pakistani General Parvez Musharraf
3. Former Foreign Minister Bilawal Bhutto
4. Asifa Bhutto

Editorial Perspective

It is easier to invest black money in Dubai than in Western countries; therefore, Indians might be using such money to buy properties in Dubai. Now, the ED should investigate and take action against such Indian citizens.