Indians dominate Dubai property ownership: top global investment
Data from the OCCRP’s ‘Dubai Unlocked’ project reveals Indians own the most residential properties in Dubai, with 35,000 properties and 29,700 owners, valued at $17 billion.
UK citizens own 22,000 properties valued at $10 billion, while Saudis own 16,000 properties valued at $8.5 billion.
The report highlights allegations of corruption, with Afghan officials and contractors accused of using reconstruction funds to purchase luxury properties.
It also mentions Indian billionaire Vinod Adani, implicated in stock market manipulation and money laundering, and members of West African presidential families linked to corruption probes.
The leaked data also implicates alleged members of the Aussie Cartel and Brazilian musician Danilo Dubaiano in Dubai property ownership.
Isabel dos Santos, a former Angolan billionaire, and her mother are identified as owning a Dubai residence, despite Interpol’s attempts to arrest dos Santos.
Ukrainian officials from the Yanukovych era are also implicated in pouring millions into Dubai real estate, amid allegations of corruption and abuse of office.