In a bombshell disclosure similar to the Panama Papers, the Dubai Property Leaks 2024 have revealed a treasure of unreported properties in Dubai, a renowned metropolis in the United Arab Emirates.
This revelation causes chaos in the international business community, especially in Pakistan. Many prominent politicians and other officials secretly hold many properties in Dubai which are not disclosed in their assets.
The hacked data has revealed the secret holdings of many worldwide leaders, including Pakistani lawmakers, bureaucrats, and citizens.
The Dubai Property Leaks 2024 revealed an estimated $400 billion in foreign-owned properties in Dubai, with Pakistanis alone owning a startling $11 billion. The leaks have identified countless political personalities, government officials, and retired officers from throughout the world.
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Pakistanis are the second-largest foreign property owners in Dubai. The Dubai leaks reveal that 17,000 Pakistanis have invested in 23,000 houses in Dubai. However, Indians top the pack, with 29,700 people owning 35,000 houses.
The British are not far behind, with 19,500 residents owning 22,000 houses worth $10 billion. Saudi residents, too, have made significant investments, with 8,500 people holding homes worth more than $8 billion.
The list of Dubai leaks also includes the identities of other high-profile figures, including a former Prime Minister, a police chief, an ambassador, and a scientist. Surprisingly, the disclosures reveal that four National Assembly members from Sindh and more than six Provincial Assembly members from Sindh and Balochistan possess houses in Dubai.
The Dubai property leaks have once again raised the problem of unreported overseas holdings, sparking a plea for more openness in international property ownership.