Dubai real estate exposes money laundering, Hezbollah, and Russian Oligarchs

The American non-governmental organization, The Center for Advanced Defense Studies, along with a consortium of Western news outlets specializing in investigative journalism, have obtained access to a database of Dubai real estate. The report they've published yields intriguing revelations.

Dubbed "Dubai Unlocked," the document reveals that the emirate has become a hub for money laundering. Among the property owners listed are Hezbollah activists, entrepreneurs linked to the Palestinian Authority, Irish drug lords, and Russian oligarchs, some of whom hold Israeli citizenship.

Dubai's allure as an investment destination stems from its continually surging property prices and favorable tax environment. Real estate transactions occur without scrutiny regarding the source of funds. Ownership details remain confidential, and an investment exceeding $545,000 grants residency rights. In 2022, foreign investment in real estate amounted to $160 billion, according to materials dating back to that year received by journalists.

As of 2022, Palestinians own approximately 1,500 residential properties, averaging $330,000 each, totaling around $900 million in value. Notable Palestinian property owners include prominent entrepreneurs and relatives of Fatah leaders.

The list also features individuals associated with Hezbollah, such as Adham Hussein Tabaja, regarded as the group's financier, and Belgian-Lebanese businessman Muhammad Bazi, sanctioned since 2019 and detained in Romania in 2023, with the US seeking his extradition.

Additionally, Irish drug lord Daniel Kinahan and Isabel Dos Santos, daughter of the former Angolan dictator, are among those listed. Over 100 Russian officials and politicians connected to President Vladimir Putin are also included.

Although the 2020 registry lacks Israeli names, the 2022 database compiled post-Abraham Accords reveals about 30 Israeli citizens, many of whom are Russian immigrants facing legal issues in their home country.

Notably, the article mentions former Udmurtia senator Khoroshavtsev, referred to as Khoroshevich, entrepreneur Andrey Shandalov, wanted in Russia, who purchased real estate under the name Aharon Meir Ben-Haim, and Timur Rodionov, sanctioned by Ukraine for his activities in occupied territories.