{"id":35891,"date":"2024-06-24T11:03:32","date_gmt":"2024-06-24T11:03:32","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=35891"},"modified":"2024-06-24T11:03:32","modified_gmt":"2024-06-24T11:03:32","slug":"atikus-daughter-tinubus-minister-others-double-real-estate-investments-in-dubai-in-4-years-investigation-reveals","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/06\/24\/atikus-daughter-tinubus-minister-others-double-real-estate-investments-in-dubai-in-4-years-investigation-reveals\/","title":{"rendered":"Atiku\u2019s Daughter, Tinubu\u2019s Minister, Others Double Real Estate Investments in Dubai in 4 Years &#8211; Investigation Reveals"},"content":{"rendered":"<p>Politically exposed persons (PEPs) from Nigeria have made a large increase in investments in Dubai&#8217;s real estate market over the last four years, according to an investigative study published by <em>Business Day<\/em>.<\/p>\n<p>The study, part of the &#8216;Dubai Unlocked&#8217; effort, was done by the Organized Crime and Corruption Reporting Project (OCCRP) and over 70 global media partners. It sheds light on the UAE&#8217;s thriving but clandestine property industry.<\/p>\n<p>According to the findings, as of 2020, Nigerian PEPs were identified with 800 properties in Dubai. By 2024, this number had doubled to 1,600 properties. In terms of monetary value, these properties were initially estimated at $400 million and have now escalated to nearly $1 billion.<\/p>\n<p>The Dubai Land Department identified Nigerians as the second largest foreign purchasers of real estate in Dubai, following only India. The properties owned by Nigerians, predominantly located in upscale areas such as Burj Khalifa, Marsa Dubai, Palm Jumeirah, Wadi Al Safa, Madinat Al Mataar, and Nad Al Shiba First, reflect a concentrated investment in prestigious locations.<\/p>\n<p>Business Day&#8217;s data analysis further revealed that apart from PEPs, a significant portion of property ownership among Nigerians in Dubai belongs to top security agents, civil servants, and individuals connected to the government and their families, accounting for 88% of the properties.<\/p>\n<p>The investigation also highlighted discrepancies in property registrations, noting instances where Nigerian males were registered as females, and vice versa. However, the report clarifies that these findings do not imply wrongdoing or suggest that the properties were acquired with illicit funds.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Politically exposed persons (PEPs) from Nigeria have made a large increase in investments in Dubai&#8217;s real estate market over the last four years, according to an investigative study published by Business Day. The study, part of the &#8216;Dubai Unlocked&#8217; effort, was done by the Organized Crime and Corruption Reporting Project (OCCRP) and over 70 global [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":35893,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[59],"class_list":["post-35891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/35891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=35891"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/35891\/revisions"}],"predecessor-version":[{"id":35894,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/35891\/revisions\/35894"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/35893"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=35891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=35891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=35891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}