Pakistanis own $10.6b property in Dubai – more than SBP’s dollar reserves

[Azadkashmir]

sand pit houses lol i hope it sinks lolz that be funny.

 

[nahtanbob]

But what you consider is not relevant or important.... I mean who exactly do u speak for? The gov of Pakistan?

A man may not even hold a POC but he can still be Pakistani because of his love for his country or the country of his father.

that may be true. But he would not be counted for this

Pakistanis own $10.6b property in Dubai – more than SBP’s dollar reserves​

 

[Trango Towers]

that may be true. But he would not be counted for this

Pakistanis own $10.6b property in Dubai – more than SBP’s dollar reserves​

Let him be bro. Its his personal matter

 

[fisher1]

I would’ve ignored the article but LULZYY you posted the video and I must present this

PM Imran’s sister among Pakistanis owning properties in Dubai | The Express Tribune

Adviser Farrukh Saleem’s mother, Senator Taj Afridi, Amin Faheem’s widow also in the FIA list submitted to SC

tribune.com.pk

Why do you assume that Pakistanis owning properties in Dubai are corrupt or do money laundering.

 

[Trango Towers]

Why is that? Was exploring this option.

UAE doesn’t give nationality to anyone. There might be rare cases.

So Pakistanis living in UAE mostly have a Permanent Residence.

POC is for Pakistanis who’ve renounced their citizenship but still have roots in Pakistan.

Property is not safe in UAE. They can decide to knock a building down any time and most buildings get knocked down after about 30 year. When they do this you get no compensation. Look at old quarter of dubai.
Then you have no bank account in the country unless u are resident. If you are non resident and decide to sell your property. How will u get your money out? We faced this problem. Luckily we knew an honest Emirati. Many people have trusted friends who took all the money and put a case on the seller.
Additionally, letting is not guaranteed. Property could be empty for months and you still have to pay for the maintenance. Also the letting agent can charge whatever he likes for maintenence. You have zero control. How can you check how can you say this is wrong.
We sold both properties after approx 7 years and lucky to break even.
Invest local. Don't chase a dumb dream. Unless your money is dirty then dubai is a place to wash it

These properties are bought with Pakistani passport, dual nationals who didn't bought properties with Pakistani passport are way more.



Some property dealers keep sending me marketing emails to buy property with guaranteed rental income.

There are no guarantees in dubai
When we purchased the property it was from a major company called Emaar. They even promised residency. When we exchanged contract then they told us no residency...can't do nothing. Dubai is bs for investment. Unless u are resident you cannot buy a car or rent an apartment

 

[Olympus81]

Thanks for the heads up.

Close relatives in real estate and real estate agency in Dubai so was exploring the option.

My investment is limited to liquid, gold (physical), ETFs (S&P500, Nasdaq), crypto (very small portion).

Thankfully I live in a country where inflation is low and the supply of land/condos far outstrip demand.

 

[Khan_21]

These properties are bought with Pakistani passport, dual nationals who didn't bought properties with Pakistani passport are way more.



Some property dealers keep sending me marketing emails to buy property with guaranteed rental income.

Dubai property peak is over. Alot of people made money from 90-2010ish. Now the market isnt as booming as it used to.

 

[ARMalik]

Well a lot of ordinary Pakistanis working in ME are buying up properties in Dubai and elsewhere BECAUSE THEY DO NOT WANT TO BRING THEIR HARD EARNED CASH TO PAKISTAN AND GIVE IT TO THIEVES AND CORRUPT GENERALS.

 

[Hephaestus]

Aag dono taraf barabar lagi hai!

 

[nahtanbob]

There are no guarantees in dubai
When we purchased the property it was from a major company called Emaar. They even promised residency. When we exchanged contract then they told us no residency...can't do nothing. Dubai is bs for investment. Unless u are resident you cannot buy a car or rent an apartment

UAE residency is strictly limited to high net worth individuals

 

[HAIDER]

Dubai property is the worst investment. Anyone who has owned property there knows. We had 2 and now sold.

Well, that was on peak when terrorism was on peak in Pakistan and also too much haram ka pesa sitting in the bank... easy come easy go ..but some people lost hard earned money ...

 

[N.Siddiqui]

Dubai, Abu Dhabi and all the seven UAE states now all run on expatriates money and expertise.

The Sheikhs are smarter and shrewd than any of the local politicians and nationalists, unilke ours. And they don't want a stable and forward going Pakistan and for that matter India, other countries.

An unstable Pakistan with uncertainty, weak corrupt govt. means a lot of capital flow to Dubai and UAE. This is exactly their modus operandi.

And with it give a few expensive gifts to the rulers in Pakistan as a bait/bribe and win lucrative contracts, the PTCL and KE sold to the Dubai sheikhs is a case in point, on lesser price of stocks.

All the bad crime reports about UAE is suppressed and was portrayed as an Island of peace and prosperity to buy real Estate and park your dollars.








Originally a state-owned corporation, the shareholding of Ptcl was reduced to 62%, when 26% of shares and control were sold to Etisalat Telecommunications while the remaining 12% to the general public in 2006 under an intensified privatization program under Prime Minister Shaukat Aziz.


In 2005, Dubai-based, now collapsed, private equity firm Abraaj Group, Saudi business group Aljomaih Holdings, and National Industries Group bought up shares of Karachi Electric, KE.

 

[xyxmt]

Stop blaming people for moving to safer places, make your country safe and a respectable place to live and then Pakistanis from abroad will move there with their Dollars.

 

[ThunderCat]

Dubai property is the worst investment. Anyone who has owned property there knows. We had 2 and now sold.

GCC countries I feel are growing unsustainably. They were much nicer in the 90s.

Stop blaming people for moving to safer places, make your country safe and a respectable place to live and then Pakistanis from abroad will move there with their Dollars.

Pakistanis abroad have a responsibility to play a role.

 

[Olympus81]

Pakistanis abroad have a responsibility to look out for their interests.

If Dubai offers good returns, they will invest in Dubai. If Pakistan does the same, they will invest in Pakistan.

Pakistan at the moment is not worth investing a dime on, especially after RCO. I am certain over time, property prices will just flat out and the prices will just go down taking inflation and devaluation into consideration. It’s a good thing.

More money needs to flow in industries that generate employment and induce cash flow.