139
KARACHI: Pakistanis purchased properties in Dubai worth over 16 billion UAE dirhams during 2013 and 2014 as compared to over 36bn dirham purchases made by the Indians.
Pakistanis bought property worth 7.5bn dirhams, and became the second largest community in the list of expatriate property buyers in Dubai during 2014.
However, Indians remained top investors with 18.23bn dirham investment in 2014 as compared to 18bn dirhams in 2013.
Read: Pakistanis share 8pc in Dubai property market
Based on 2013 investment of 8.6bn dirhams, total buying by Pakistanis in 2013 and 2014 stood at 16.1bn dirhams, according to data of Dubai Land Department (DLD).
The amount of investment in Pakistani rupees crosses over Rs430bn after taking the value of one dirham at Rs27.
Market sources said that political leaders, government officials and business tycoons were the major buyers.
An estate agent said most of businessmen had managed to pull out their investment after 2008.
A builder ruled out the possibility that any developer/builder had lifted any property for launching new projects in Dubai or for investment. He said that the builders are highly busy in Karachi where property demand is high.
Investment from UK in Dubai fell to 9.318bn dirhams in 2014 from 10.4bn dirhams in 2013.
The total value of non-Arab investment in Dubai real estate market stood at 64bn dirhams through 29,098 transactions compared to over 69bn dirhams in 2013.
Iranians and Canadians invested 4.5bn and 3.157bn dirhams, respectively, in 2014.
Citizens of Gulf Cooperation Council (GCC) states bought property worth 32bn dirhams through 7,186 investors in 2014.
Emiratis invested 22.771bn dirhams, registering 4,452 transactions, while Saudis stood second with 1,745 transactions worth 5.207bn dirhams.
They were followed by Kuwaitis who made 426 transactions of 1.271bn dirhams; Qataris with 221 transaction of 1.969bn dirhams, and Bahrainis with 187 transactions of 483bn dirhams. Investors from Oman put in 613 million dirhams in 119 transactions.
Arab investors registered a total of 5,431 transactions worth over 12bn dirhams. Jordanians ranked no. 1 with 1,028 transactions of 2.513bn dirhams.
They were followed by Egyptians with 874 transaction of 1.768bn dirhams, followed by Lebanese with 785 transaction of 2.068bn dirhams. Iraqis came in the fourth place with 650 transactions of 1.631bn dirhams.
People from 140 countries are investing in the property market of Dubai, with total real estate transactions amounting to 218bn dirhams in 2014.
The total value of non-Arab investment in the Dubai real estate market for 2014 amounted to more than 64bn dirhams through 29,098 transactions.
Indian nationals were ranked the highest value foreign investors, making 7,353 transactions with a total of 18.123bn dirhams worth of property transactions.
Investors from Pakistan came in second with 5,079 transactions with a total of 7.588bn dirhams worth of property transactions.
British investment came third at 9.318bn dirhams. They were followed by Iran and Canada with a total of 4.5bn and 3.157bn dirhams.
Published in Dawn February 17th , 2015
On a mobile phone? Get the Dawn Mobile App: Apple Store | Google Play
Read more
On DawnNews
Comments (139) Closed
Feb 17, 2015 07:47am
Buyers are political leaders and govt. officials?
we can see where the stolen tax payer's money is being invested in for personal gains and security.
Recommend
0
Feb 17, 2015 07:52am
Dubai .... New Karachi or Mumbai?
Recommend
0
Feb 17, 2015 08:04am
But indian bought 5 times more than Pakistani.
Recommend
0
Feb 17, 2015 08:08am
Dubai is the money laundering heaven for the thugs and crooks of Pakistan.
Recommend
0
Feb 17, 2015 08:13am
Shame on those Pakistanis who invest billions of dollars in UAE or any other country. Be Pakistani invest in Pakistan or don't call your self Pakistani.
Recommend
0
Feb 17, 2015 08:20am
Not exactly news worthy factoid.
Recommend
0
Feb 17, 2015 08:21am
"Market sources said that political leaders, government officials and business tycoons were the major buyers. "
Where else would our dear politicians invest money, not Pakistan for sure.
Recommend
0
Feb 17, 2015 08:22am
We are rich enough to buy properties abroad. General Raheel, please scrutinize the buyers and let us know how people are getting richer during the bad time of our nation and pumping out money from Pakistan.
Recommend
0
Feb 17, 2015 08:27am
Very interesting, rich Pakistanis and poor Pakistan!!!!!!!!
Recommend
0
Feb 17, 2015 08:29am
Good work. Keep it up and try to clinch the top spot. At least Pakistan will be number one in something.
Recommend
0
Feb 17, 2015 08:31am
Wow...government should seek their record from UAE government and refer their cases to NAB or to special tribunals...good to know from where these people got this much money to invest...and did these so called investors pay any tax on their wealth or not...should run into tens of billions of dollars...also all concerned political parties should refrain from taking political mileage out of this issue for the sake of Pakistan because massive flea of capital to safe havens may not only be due to security climate of the country...
Recommend
0
Feb 17, 2015 08:32am
This shows that Indians and Pakistanis are the most corrupt people and hoarders of black money and ill gotten wealth on this planet. How on earth can a petty gov't official, howsoever high ranked, purchase villas and castles in foreign lands, valued at billions?
Like in China, these people should be executed with a single shot aimed at their head and again as in China, the cost of bullet, borne by the corrupt offender.
Recommend
0
Feb 17, 2015 08:35am
Most of the buyers have a common sir name (SHARIF)
Recommend
0
Feb 17, 2015 08:36am
Half of this is owned by Mr Dar and family
Recommend
0
Feb 17, 2015 08:38am
Dubai a tiny place with no guarantee of future as ISIS expands....a country modernised as a place to spend your hard earned money in with no guarantee where it takes you! Dubai is all artificial as is rest of middle east,all desert but oil for the ruling elite,who have stashed and invested their wealth with the West.
Recommend
0
Feb 17, 2015 08:44am
Unfortunately due to series of crises in Pakistan, Local investors dont have confidence on economy. All governments made fake promises. And this is result now. People are taking their savings out of Pakistan. Government has to take bold steps towards security first. Give investors Tax benefits attractions. Resolve power crises.
Recommend
0
Feb 17, 2015 08:47am
Yet another proof that Good governance matters
Recommend
0
Feb 17, 2015 08:48am
Pakistani crooks have no match.
Recommend
0
Feb 17, 2015 08:48am
That comes to $4.3Billion. This much money invested in Pakistan will bring hundreds of thousands of jobs in the construction sector. Would the author know if these were cash transactions, or was there any financing involved?
Recommend
0
Feb 17, 2015 08:49am
With Halal money ? or .....
Recommend
0
Feb 17, 2015 08:55am
That is why the GOP wants us to pay taxes! Polticians and Government "servants" can buy property which they dont pay for from their pockets. If the Dubai property later turns out to be worthless they dont loose anything! Simple and perfect business deal...
Recommend
0
Feb 17, 2015 08:56am
list owners name and how much taxes they paid in Pakistan.
Recommend
0
Feb 17, 2015 09:07am
With their Halal money ?
Recommend
0
Feb 17, 2015 09:08am
And who said muslims in India are backward ,illiterate and sidelined.
Recommend
0
Feb 17, 2015 09:11am
Why Pakistan lags behind India in every walk of life?
Recommend
0
Feb 17, 2015 09:22am
Dubai is fast on a downhill property track since last several years and high-profile properties are lying vacant. Anyone making investment in Dubai now is on slippery ground, unless one is just running away with stolen money to hide.
Recommend
0
Feb 17, 2015 09:24am
Again India defeated Pakistan
Must be bcci involved
Lol
India obsessed country
Recommend
0
Feb 17, 2015 09:30am
who said Pakistanis are poor!?
Recommend
0
Feb 17, 2015 09:31am
90% of the pakistani investment made in Dubai is from politicians, corrupt government officials, dacoits, lyari gangwarlords, money changers and recently amounts taken as ransom by the kidnappers. But dubai govt is least interested in the origin of wealth pouring in emirates just like switzerland
Recommend
0
Feb 17, 2015 09:35am
Do they verify the source of income - mostly it is siphoned (illegal wealth) by Indians & Pakistani's, otherwise very few would qualify and can afford it.
It is better than putting in Swiss banks.
Recommend
0
Feb 17, 2015 09:54am
Foolish people build their castles in the sand....Always ends up badly....
Recommend
0
Feb 17, 2015 09:55am
Who is gonna is use them? Looters will go in jail certainly
Recommend
0
Feb 17, 2015 10:03am
UAE is best place to invest black money. I am sure 90% of the investors are politicians, govt officials and army officer.
Recommend
0
Feb 17, 2015 10:09am
Almost 4.5 Billion Dollars are gone to UAE from Pakistan. Can State Bank confirm that this was gone via legal channels to UAE from Pakistan or no record.
Recommend
0
Feb 17, 2015 10:17am
How come so much of capital expatriated from Pakistan, did the Government do anything to curtail such a move and what about the taxes on the money. I am sure all that cash would have been paid by hundi and hawala and Government is even not aware. This is how a black and corrupt economy works.
Recommend
0
Feb 17, 2015 10:32am
With the amount of black money they have, they can even invest in Newyork's real state. Doesn't surprise me.
Recommend
0
Feb 17, 2015 10:34am
why you always compare India with Pakistan ? we are not competitors to any nation , compare to Pakistani rich people Indians are better
Recommend
0
Feb 17, 2015 10:40am
Pakistan and India are top among most corrupted countries. The money of common man is coming out through improper channel hence both countries are suffering heavily and poverty and lack of basic amenities are the curse created by these menace..Corruption must be tackled effectively otherwise trillions will go out again and poor people will be always poor.
Recommend
0
Feb 17, 2015 10:40am
Karachi and Mumbai are no match for Dubai and U.A.E. U.A.E suffers a lot of human right problems , most biggest problem is labor rights.
Recommend
0
Feb 17, 2015 10:42am
It is a sad commentary about the state of your countries where people have to invest their money abroad. But I can understand that since I have been to India and I have seen it to be one of the filthiest countries in the world. In New Delhi (Connaught place, heart of posh Delhi) people urinate on walls like animals and the place stinks and they throw garbage all over. Just outside New Delhi railway station, I saw a small lake of urine, no clean urinals even in the capital's most important railway station. You dare not drink water from the tap because the water is mixed with sewage. Shame on both your countries which cannot provide clean water to your citizens but you waste your money making nuclear weapons.
Recommend
0
Feb 17, 2015 10:50am
we love dubai and their people so much....
Recommend
0
Feb 17, 2015 11:02am
All Pakistanis are politicians and govt. employees...
Recommend
0
Feb 17, 2015 11:05am
@shaneeza lol Why general Raheel will do that
Recommend
0
Feb 17, 2015 11:12am
@faisal Give surety of property before giving lecture. In Karachi land mafia don't let over seas Pakistan invest in their own country.
Recommend
0
Feb 17, 2015 11:13am
@Rocket because india is 5 times bigger than Pakistan so there is no comparison. Just look at micro level, 16 billion Dirhams is not small amount.
Recommend
0
Feb 17, 2015 11:30am
@faisal "Be Pakistani invest in Pakistan or don't call your self Pakistani."
Investors doesn't work like this. They invest their money in safe places.
Recommend
0
Feb 17, 2015 11:32am
Hi Anupam
Your comment was not required
please stay on the topic and don't comment any vague remarks
After all cricket is just a game and don't mix games and politics
Hope you understand
Recommend
0
Feb 17, 2015 11:39am
@Rocket India has 8 times more population than Pakistan, remember?
Recommend
0
Feb 17, 2015 11:40am
Government Officials or Bureaucrats are the real menace of the society. They steal far more money from people than all the politicians, army and extremists combined.
Recommend
0
Feb 17, 2015 11:40am
PML-N and PPP "Leaders" are the biggest investors in the Dubai real estate from Pakistan with Ishaq Dar leading the way
Recommend
0
Feb 17, 2015 11:41am
how is Pakistan on no. 2 with 7.588 bn dirhams and Britian on no. 3 with 9.318 bn dirhams?
Recommend
0
Feb 17, 2015 11:42am
Instead of rejoicing the rare "achievement " , investigate the source of money
Recommend
0
Feb 17, 2015 11:43am
Who says Pakistan is poor country?
Recommend
0
Feb 17, 2015 11:48am
There are stupid mistakes in this article statistics contradicting within itself...
Recommend
0
Feb 17, 2015 11:52am
@Rocket so what. it means there is more black money in India than in Pakistan
Recommend
0
Feb 17, 2015 11:52am
@Rocket I'm sure Indian invested over 90% of white, tax paid, legal money and vice versa for Pakistanis.
Recommend
0
Feb 17, 2015 11:53am
Dubai is Muslim but the entertainment capitol of the Muslim world. It is a very good option for the rich in Pakistan to either vacation there in winter or go there to live.
Fort Apache is a famous old film. Fort Apache was surrounded by red Indians and it was dodgy it the Whites would survive. This asks the question do the rich in Islamabad believe they are surrounded by the tribes? Do they feel that threatened even with all their security?
There are bunches and bunches of ex-patriot communities around the world; Americans in Costa Rico, the English in Spain, Swedes in the Canary Islands just to name a few. It is all perfectly normal.
The wealthy must separate themselves from the rest of us because there are obstacles like kidnap gangs, financial conmen, armed robbers, criminals who want to hook their children on heroin and control them, home invaders... it's a long list. One of my good friends fled Yemen to Dubai and everything is for sale in Dubai. The rich must separate themselves from danger even there.
Recommend
0
Feb 17, 2015 11:54am
@faisal You have the right to invest wherever you deem safe and secure. However, it should be legally earned and tax paid which obviously is not the case for most of it.
Recommend
0
Feb 17, 2015 11:57am
@shaneeza Raheel sharief is army chief and is already doing what others are supposed to do. We overburden good people and complaint when they fail. However. the dilemma remains that those responsible to check this are themselves complicit in crime.
Recommend
0
Feb 17, 2015 11:57am
@faisal
It's their money.
"It's the strangest thing that the poor who need the money the most are the very ones who never have any of it."
(Finley Peter Dunn)
Recommend
0
Feb 17, 2015 12:00pm
@shaneeza
You've been looking at Gen Raheel for solutions to all problems for sometime now...why not make him the cricket coach?
Recommend
0
Feb 17, 2015 12:01pm
@Jennifer F, Melbourne Nuclear weapons and others arms is not where our money exhausts. Its ever deepening pockets of corrupt politicians and government officials at least in Pakistan that siphons away the money meant for development.
Recommend
0
Feb 17, 2015 12:06pm
It will be interesting to see the names of "political leaders and govt officials" who have invested in Dubai and not Pakistan.
Recommend
0
Feb 17, 2015 12:06pm
Out of those how many buildings belong to zardari, bilawal, mian nawaz and even musharraf sahab?
Recommend
0
Feb 17, 2015 12:14pm
I do not wish to sound as if I am writing begrudgingly, but pleased to note that there were 5,079 transactions by Pakistani investors in 2014 alone and the second largest number of transactions after the Indians, but what is deeply disturbing is that the three leading categories of investors included 'political leaders', 'government officials', and 'business tycoons'!
The question to ask is whether these investments were from legitimately earned monies or black monies (kick-backs or bribery or illegal commissions from preferential governmental procurement contracts, etc. etc.) ?
The other question to ask is - whether the 'business tycoons' have paid their due taxes in Pakistan (as Pakistan has one of the poorest tax collection record and one of the lowest proportion of Tax Revenue as a proportion of GDP in the world)?
In a country where 75m-80m (out of a population of 180m) or 42-45% people were living on less than $1.20 per day (according to the UN's figures of 2012), it's an extremely sad and tragic 'state of affairs' to note that it is the 'political leaders' and 'bureaucrats' who were among the leading overseas property investors in the UAE!
No doubt, then, that the general public has lost confidence and trust in our political and bureaucratic leadership of Pakistan and looking for an 'overhaul change' in the system and leadership!
But folks, our Prophet - pbuh also said, "Your leaders are, what you are....."; i.e. the socio-political-economic problem is not only top-down, but bottom-up, as all kinds of leadership emerges from within!
Recommend
0
Feb 17, 2015 12:27pm
They want foreign investor in pak but for own money ,Dubai is best place to invest. is it joke, what kind of people leading us at top . Only hope. GOD IS VERY MERCIFUL and one day ,God would replace them with good
Recommend
0
Feb 17, 2015 12:37pm
@Rocket how is 16 Bn against 36bn FIVE times, Eintstein?
Recommend
0
Feb 17, 2015 12:45pm
@valiya.... 16 billion UAE dirhams during 2013 and 2014 as compared to over 36bn dirham purchases made by the Indians. this speaks the volume on our sides...They are five times larger than us .... do your maths
Recommend
0
Feb 17, 2015 12:48pm
@shaneeza Why you are calling Raheel for everything? he is not your PM/President, only chief of army. If he is controlling the helm of affairs why there is a government?
Recommend
0
Feb 17, 2015 12:50pm
@Rocket big economy, much more people. Compared to that with shrinking economy and tiny sized population , Pakistan came second. Tells a lot.
Recommend
0
Feb 17, 2015 12:51pm
@faisal
provide security for me here and then only i'd invest or else my money is well suited abroad.
Recommend
0
Feb 17, 2015 01:11pm
@shaneeza He wants you to know that he is looking into it right away:-)
Recommend
0
Feb 17, 2015 01:11pm
@STANLEY- PANJIM GOA
I know bro
It was for just fun
Recommend
0
Feb 17, 2015 01:18pm
@faisal. Investment is made based on security and returns, not nationalist sentiments. Because of "qabza" groups operating under political patronage, investment in Pakistan property is highly risky. Remember, Punjab Governor recently resigned saying "qabza mafia" is stronger than the Governor.
Recommend
0
Feb 17, 2015 01:26pm
Now you know where all the Zaradis are taking their money!
Recommend
0
Feb 17, 2015 01:30pm
@valiya Hey, his posts appeling to the amy chief for everything makes my day. I only come to this site looking for it. Please don't you make him stop.
Recommend
0
Feb 17, 2015 01:31pm
@Syed Husain Every nation on earth has both.
Recommend
0
Feb 17, 2015 01:47pm
Pakistanis should be investing in their own country. Dubai is a manufactured country with no real future. In the long run Pakistan is the best bet.
Recommend
0
Feb 17, 2015 02:12pm
Its NOT ONLY IN DUBAI that they have placed money in...
Research will show more.
Recommend
0
Feb 17, 2015 02:16pm
The Govt should ask it's citizen in UAE that how they earned the money and have paid there Income Tax. If they can't prove it then the Govt should confiscate and Auction off that property and bring that money to Pakistan.
Recommend
0
Feb 17, 2015 02:26pm
Absolutely correct, 100 % true article... Why !!! because I lived in Dubai and fortunately or unfortunately my landlord is Karachi Political Party member.... and you wont belive, how deeply they have their roots in the Dubai real estate. Already owns apartments, villas and waiting for new projects to invest.
I wasn't expecting this, but I got a Pakistani Landlord who so far is so helpful and kind to me. Am very impressed with his PR in Dubai :-D
Recommend
0
Feb 17, 2015 02:43pm
Has anyone paid attention towards how much Afghanis have bought? If you think our politicians are corrupt, you will shiver when you look at how much money Afghanis have hoarded overseas.
Recommend
0
Feb 17, 2015 02:45pm
@Mullah Deewana
Because people like you are obsessed with India-Pakistan comparisons only...
Recommend
0
Feb 17, 2015 02:56pm
They are earning there and buying property to safe guard their future and their children. Do you think they will buy property in Pakistan to get butchered.
Recommend
0
Feb 17, 2015 03:11pm
Another market crash like 2008 (now a distinct possibility with the Derivatives market again getting hot), the looted wealth will be wiped out again! Unfortunate part is that the looters will be affected much less than the looted (as usual)! Who would convince these dumb investors that Pakistan is a much better real-estate market to invest in than any of the others!!!
Recommend
0
Feb 17, 2015 03:25pm
@Ahmed USA Have you not read the article. In the beginning itself it is stated that politicians, govt. officials and business tycoons have bought. So you are asking the very people who have invested to do the scrutiny. Do you think it will ever happen.
Recommend
0
Feb 17, 2015 03:27pm
Guys..Ever in your life heard of mortgage..Yes thats what indians and pakistanis here take to get a property.So relax.90% wasnt looted money.Its hard earned money which ppl are paying as they work here..
Recommend
0
Feb 17, 2015 03:29pm
So, rich Pakistanis have started planning to live in next peaceful country due to dark future they see in their country.
Recommend
0
Feb 17, 2015 03:32pm
Do those in the Gulf who presume to tell us how we should practice our religion and finance the extremist madrassas ever stop to ask the so called investors how their wealth was acquired or does their version of islam not care?
Recommend
0
Feb 17, 2015 03:38pm
The heading should be "Pakistani ruling elites and their crooks bought properties worth billions of Dirhams in Dubai "
Recommend
0
Feb 17, 2015 03:40pm
Who says pakistan is a poor country?
Recommend
0
Feb 17, 2015 03:41pm
@shaneeza so Gen. Raheel Sharif must forget his job of securing the borders and culminate terrorism with the state. Instead he should open an Auditing Firm and start auditing corrupt politicians.
Good! keep going...
Recommend
0
Feb 17, 2015 03:43pm
than we all should praise malik Riaz. He is investing and buiding in Pakistan.
Recommend
0
Feb 17, 2015 03:53pm
why not spend the money for betterment, education of Pakistani people? It is foolish to spend that money there where Pakistani people are mistreated. The weird thing is that, if a Pakistani actor buys a home in Mumbai, he is safer and happier than buying a house in Dubai.
Recommend
0
Feb 17, 2015 04:02pm
@Jennifer F, Melbourne Plz dont compare India with Pakistan in sanitary condition, I live in Karachi whereas I have been to Delhi many times and I completely agree with your observation regarding New Delhi,India.India is very filthy
I request you to kindly personally visit Pakistan and see the difference
Recommend
0
Feb 17, 2015 04:03pm
Why Pakistan begging for few million $ when they have tons of billions in dubai????????
Recommend
0
Feb 17, 2015 04:26pm
@Anupam You are the one on Pakistani website not the other way around. Stop being obsessed with us.
Recommend
0
Feb 17, 2015 04:37pm
All this money is going to be wasted.
Ask me why? The rulers of UAE, Bahrain, Kuwait and Qatar instead of keeping low profile in the Arab rivalry have become cocky and started showing their heavy hand in the affairs of the Arab World, not realizing that they do not have the population to back them in their heavy handed interference. The new element in the game is ISIS and these guys do not play games by the rules, hence these four tiny sheikdom are going to be squeezed out and the rulers have no where to go.
The investors in the properties should sale and run with their money, because pretty soon they will not get that option again.
Recommend
0
Feb 17, 2015 04:40pm
FOR GOD SAKE PLEAS TELL OUR POLITICAL PARTIES MAKE KARACHI AND LAHORE GREATEST CITIES OF THE WORLD OR AT LEAST ASIA. FOR GOD SAKE DO NOT DIVIDE THEM IN SECTS OR OTHER TYPES OF GROUPS JUST FOR POWER OR MONEY. PROSPERITY OF PAKISTAN IS PROSPERITY OF YOUR KIDS IF YOU HAVE. YOUR KIDS AND FAMILIES ARE NEVER SAFE IN FOREIGN COUNTRIES FOR A LONG TERM PERIOD. DO NOT THINK LIKE CHARLATANS OR GREEDY CITIZENS. IT IS TOO LATE BUT MAKE IT POSSIBLE.
Recommend
0
Feb 17, 2015 04:49pm
@faisal I would invest in Pakistan but a good investor knows not in invest in a Country that has no laws it will enforce, corruption,terrorisim.
Recommend
0
Feb 17, 2015 05:19pm
When you can't even lift a finger against the politicians for not paying tax,claiming few millions instead of their real worth living right here in Pakistan,what makes you think you can do something against them for buying properties worth BILLIONS in Dubai???
Recommend
0
Feb 17, 2015 05:23pm
Pakistan is running at a GDP growth of less than 3% with no power, no gas and no allies. Terrorism is rampant and law and order is unstable. Why would any businessman invest in such a hopeless country?
Investing in the promise of UAE looks like a much better business decision. Nobody is a nationalist when it comes to their own money.
Whats worrying is that even the Indian investors are losing interest in Indian markets. This is not good for the economic outlook of sub continent if the investors keep pulling their money and mobilizing it in the desert. One hopes that the money doesn't go in the hands of the militants spreading terror across the globe.
Recommend
0
Feb 17, 2015 05:51pm
after this pakistani government see every body this figure the proprty of pakistanies is to high than know i am a driver not economist but i know well pakistani politation
Recommend
0
Feb 17, 2015 06:07pm
Dubai, a haven for dacoits, thugs, thieves, and money launderers!
A place where you can find prostitutes each nook and corner, hotels provide all those facilities which are banned in Pakistan, or will not be tolerated in any Muslim society, so if the Muslims are not to live the way they want to in their own countries, they would come to Dubai!
Recommend
0
Feb 17, 2015 07:12pm
@jenny..... no one cares....
Recommend
0
Feb 17, 2015 09:09pm
Most of the buyers include with currupt money, fraudulent earning to save outside country and and the government should investigate the record and bring under punishment.
Recommend
0
Feb 17, 2015 09:29pm
@Rocket Their population is also 5 times more than Pak
Recommend
0
Feb 17, 2015 10:00pm
British investment would be 2nd as it is highlighted as being 9.318 bn dirhams as compared to pakistans 7.588 in the last para.
Recommend
0
Feb 17, 2015 10:07pm
@Rocket just a reminder India is almost 9 times bigger than Pakistan is! so whats the point again?
Recommend
0
Feb 17, 2015 10:25pm
India has more million and billionairs and come 3rd or 4th most billionairs in the world.
Recommend
0
Feb 17, 2015 10:56pm
I think this a golden opportunity for the Pak govt to get in touch with UAE govt and find out the people who have bough properties in Dubai. Same way they have obtained the list of Pakistanis who have millions of dollars in Swiss accounts. Then the govt should check their income, tax payment histories to see if it matches with their income and whether they could have afforded to buy the properties in Dubai. Otherwise most like they got this money via illegal means and Pak govt should pursue it seriously.
Recommend
0
Feb 17, 2015 10:57pm
@Qamar Not only Pakistan, I've my self witnessed people from African and other middle-eastern countries buying properties like crazy.
Recommend
0
Feb 17, 2015 11:01pm
Pakistan's treasury is empty, influential & top politicians not paying taxes, not returning loans, laundering out money, and public is extremely poor, and politicians are extremely rich, with undisclosed offshore family ownership outside Pakistan. It simply does not add up.
Recommend
0
Feb 17, 2015 11:18pm
Who says that "land of the pure" is a poor country. In fact, maybe the government is poor but majority of people are pretty rich.
Recommend
0
Feb 17, 2015 11:47pm
@faisal This is for outing.They're sacred to invest in Pakistan although monies are or were earned in Pakistan by hook or crook.They do not want to benefit Pakistan.
Recommend
0
Feb 17, 2015 11:49pm
I do not understand what is catch to invest in UAE.
Recommend
0
Feb 18, 2015 12:02am
So, that is where Pakistan's stolen wealth is going. Musharraf and both the Sharif brothers own properties in Dubai.
Recommend
0
Feb 18, 2015 12:29am
Sub gol maal hai bhai sub gol maal hai
Recommend
0
Feb 18, 2015 01:38am
Pakistanis are not just beautiful but rich too!
Recommend
0
Feb 18, 2015 02:24am
Some 'smart' guys avoided to remain away from HSBC leaks
Recommend
0
Feb 18, 2015 02:40am
Who would've ever thought poor & honest public servants would have so much money eh? Shows how hard they work for you and me.
Recommend
0
Feb 18, 2015 02:51am
Why cant they invest in Karachi's ? Karachi oceanfront is sitting neglected since 1947.
Recommend
0
Feb 18, 2015 03:14am
@faisal If the investors do not feel safe , why blame them? Tell the government.
Recommend
0
Feb 18, 2015 03:18am
@Jennifer F, Melbourne : Dear, I appreciate your candid opinion and I do agree that India is not at all in comparable situation with Australia or any other developed country. But during my recent visit in Nov 2014 I have noticed that the awareness towards cleanliness and sanitation is gradually increasing among the rulers and common citizens. Not sure when did you visit India, but if you ever happen to visit again, I am sure you'd notice positive difference. I personally beg your pardon for the inconvenience you have faced in past.
Recommend
0
Feb 18, 2015 05:23am
@Jennifer F, Melbourne Shame on us only? Why not shame on your white folks who came and stole everything from us. Care to even return half of the trillian dollars toy stole from Bharat?
Even if you return half of it, we promise next time you won't see poverty in India.
Namaste.
Recommend
0
Feb 18, 2015 06:21am
@faisal
While I agree somewhat with your views in a patriotic sense, they dont hold much meaning in reality. Reason being that your property is not at all safe within Pakistan. Be it thugs, TTP, land mafia, who is going to stop them? Police? Lets not kid our selves.
As far as politicians go, they need an overhaul in policy. Such as an actual Masters or above and not the jali or isli degree same same to even be considered for any political office. No dual citizenship, limited property outside Pakistan and transparent anda lot more but its all wishful thinking
Recommend
0
Feb 18, 2015 07:27am
@JET LEE it's not sir name its surname
Recommend
0
Feb 18, 2015 08:22am
With Swiss banks revealing the names of these crooks , these people have nowhere else to hide their black money except Dubai.
Recommend
0
Feb 18, 2015 08:23am
Ok, that was me, so what did the others invest. Lol.
Recommend
0
Feb 18, 2015 10:45am
@Rocket : Do not get out of limits, I live in Dubai. 8% property is owned by Pakistanis, 12% by Indians. If we compare population and size of these two countries, Pakistan has more property business than India in UAE
Recommend
0
Feb 18, 2015 11:00am
@chandler They are called SIR everywhere not SUR.
Recommend
0
Feb 18, 2015 11:07am
@Akhtar. "Pakistan good in long term"!! How long is long term, where things have been going from bad to worse in the last 30 years??
Recommend
0
Feb 18, 2015 11:46am
@Mullah Deewana well to what extend? Ok lets see here. Your population is 6 times bigger then ours now take a look at the total investment which is around 7 and yours is 18bl dirham. Now compare it and you will find that our share of investment is more then yours. But that is not the point here. Most of the investment came from Gov official from Pakistan and as we know that indian is not immune to corruption and big chunk of their investment must be from the black money of corruption.
Now lets come to your Indo-phobia. What i have seen from past few years i can say that you indian are taking too much pride in being ahead of Us be it economics,sports or foreign affairs. Dear indian world does not end here and your competition with us will not bring any bread and butter to your poor below the poverty line population neither will it bring us any good.
My point here is that we Pakistani might be behind you but Arooj ko zawal b hai. We are going through very tough phase and i think it is a victory for that even though we are tinny nation as compared to yours but we have always kept you worried about us for past 6 decades. You talk about competing with china and still bash whenever you find anything related to Pakistan.
Such a pity. Hope you will not poke your nose next time.
Recommend
0
Feb 19, 2015 10:17am
@Rocket you probably cant do simple maths. Indians Bought properties worth 18b Dhs and Pakistanis worth 8b Dhs. Now do your maths and dont forget that indian population is 6-7 times bigger than Pakistan.
Recommend
0
Feb 19, 2015 02:41pm
@jamshed But Indian politicians are less corrupted than Pakistanis.
Recommend
0
Feb 19, 2015 04:44pm
@faisal This is why pakistan is not progressing. You need to make the country trade free to bring more investment. Look at India, we have invested trillions outside through our Indian multinationals and people from all over the world is investing trillions in India. It is called business mindset. You will not understand.
Recommend
0
Feb 19, 2015 05:34pm
A substantial amount of this investment could have been in Karachi if MQM and PPP let Law and Order prevail.
Recommend
0
Feb 19, 2015 06:33pm
all due to corrupt leadership , we the Pakistanis are blessed with. as things stand now, no hope.
Recommend
0
Feb 19, 2015 11:35pm
Nothing wrong with it, provided all transactions are legal. Pakistanis also have right to get rich.
Recommend
0
