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2,401 Pakistanis who invested $4b in Dubai may whiten wealth

2,401 Pakistanis who invested $4b in Dubai may whiten wealth

ISLAMABAD: Over 2,401 Pakistanis, who recently invested $4 billion in Dubai, may get whitened their undeclared assets abroad under the new amnesty scheme.

Officials associated with the Federal Board of Revenue (FBR) and State Bank of Pakistan (SBP) confirmed that 95% investors have not declared their Dubai assets.

According to a confidential document available with the correspondent, around 2,401 plus super-rich Pakistanis had bought luxury residential villas/ flats/ estates in around a dozen renowned localities of Dubai in the past nine years.

Some 967 residential/ commercial properties were bought in luxury areas of Greens, 75 precious flats in Emirates Hills, 165 properties in Discovery Garden (residential and commercial), 167 flats in Jumeirah Island, 123 residential properties in Jumeirah Park, 245-plush flats in Jumeirah Village, 10 properties in Palm Deira, 160 in Palm Jabel Ali, 25 properties in Palm Juemirah Shorelines, 234 properties in International City and 230 flats were bought in Dubai Cilicon, according to the document.