BUSINESS NEWS : Pakistani Nationals Own Thousands of Properties in Dubai, Valued at Billions of Dollars
According to reports from foreign media outlets, an international consortium of journalists obtained detailed information about property ownership in Dubai through leaked data this Tuesday. It was revealed that Pakistani nationals own between 17,000 to 22,000 properties in Dubai, with a total value of $12.5 billion.
Dawn reported that the leaked data provided an extensive overview of hundreds of thousands of properties in Dubai along with ownership or usage rights information, primarily from the years 2020 and 2022. The data was acquired by the Center for Advanced Defense Studies (C4ADS), a non-profit organization based in Washington D.C., which specializes in researching international crime and conflict.
The website stated that journalists from dozens of global media outlets were aware of the "staggering amount of leaked property data, including detailed information on over 17,000 properties owned by Pakistanis as of spring 2022."
The report noted that while the leaked data from 2022 listed 17,000 Pakistani citizens as owners, scholars utilized this data and other sources to estimate that the actual number of Pakistani property owners in Dubai may be as high as 22,000.
Furthermore, they estimated that the value of these apartments and villas could have exceeded $10 billion in early 2022. However, with property prices increasing by over 25% in the past two years, the actual value of residential properties owned by Pakistanis in Dubai may now far surpass $12.5 billion.
The revelation sheds light on the significant investment presence of Pakistani nationals in Dubai's real estate market and underscores the substantial economic ties between Pakistan and the UAE.
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