Pakistanis and Indians' Huge Property Holdings in Dubai.

The Dubai Unlocked investigation has revealed that Pakistanis own the highest number of properties in Dubai, collectively valued at USD 12.5 billion. The report includes the names of several Pakistani politicians, retired generals, money launderers, bankers, and bureaucrats as property owners. This data highlights the issue of tax evasion and the misuse of funds by public officials.

The report also reveals that the residential properties owned by Pakistanis are estimated to be worth USD 10 billion at the beginning of 2022, indicating a 25% increase in property prices in Dubai over the last two years. This raises concerns about the transparency and regulation of the Dubai real estate market.

The Dubai property leaks have also uncovered the ownership of properties by individuals from other countries, including India. The report shows that the top three billionaires with the most valuable properties in Dubai are from India, including Reliance Industries chairman Mukesh Ambani, Lulu Group chairman M A Yusuff Ali, and Burjeel Holdings owner Shamsheer Vayalil Parambath. The leaks have the potential to trigger reputational damage, regulatory scrutiny, and market fluctuations, as well as promote international cooperation in addressing issues such as money laundering.