Pak Sahafat – An English newspaper wrote that the royal families of the Arab countries of the Persian Gulf, including Saudi Arabia and the United Arab Emirates, own more than one billion pounds of property in England.
According to the International group of Pak Sahafat news agency, the investigation of the English newspaper “Guardian” revealed the facts of corruption of members of the ruling families in the United Arab Emirates and Saudi Arabia through billions of dollars in real estate assets registered through foreign judicial authorities.
This research conducted by the European Focus on Middle Issues shows that the royal families of the Arab countries of the Persian Gulf own more than 1 billion pounds ($1.2 billion) of real estate in the UK through foreign entities such as Jersey and the British Virgin Islands.
According to research, the Saudi royal family owns a range of properties through foreign entities, including Holm, a lakeside palace in the center of London’s Regent’s Park, built in 1818.
This property belongs to a Guernsey-based entity that benefits from Prince Abdullah bin Khalid Al Saud, Saudi Arabia’s representative to the United Nations. The historic property was sold in 2020 for £185 million.
Another member of the Saudi royal family is Prince Turki Bin Salman Al Saud, who is the ninth son of the King of Saudi Arabia and the brother of the Saudi Crown Prince Mohammed Bin Salman. He owns Moncrief Holdings, which is based in the British Virgin Islands and has 18 properties in London, including apartments in the Pinto Tower in Nine Elms.
This English newspaper has listed nearly 200 properties in England, including hotels and palaces in London and suburban villa properties in this country, belonging to a few members of the royal families in the Arab countries of the Persian Gulf, including the UAE, Saudi Arabia.
The British Foreign Institutions Register reveals for the first time how the royal families of the Gulf Arab states, led by the United Arab Emirates, used offshore legal entities to expand their real estate holdings in the UK.
One of the most prominent members of the Gulf Arab royal family to hold assets through foreign entities, Mansour bin Zayed Al Nahyan owns Manchester City Football Club, as he holds 17 title deeds across the island of Jersey, including an apartment in London and land attached to it.
The most expensive one is a 150 million pound property in the “Suri” area, which, according to the property registration documents, belongs to Sheikh “Manal bint Muhammad Al-Maktoum”, the wife of Mansour bin Zayed.
According to the Guardian newspaper, in total members of the ruling families of Saudi Arabia, the United Arab Emirates, Qatar, Jordan and Bahrain have nearly 200 properties worth at least one billion pounds in the UK through offshore companies owned by the Virgin Islands, Jersey, Guernsey and Panama.
Although the investment of the Arab countries of the Persian Gulf in England is formed within the framework of the law, there is fear and concern about their abuse and tax evasion.
According to Tasnim, in the shadow of the silence of the official domestic circles of Saudi Arabia, statistics and international reports can show the complicated economic situation of the common people of this country to some extent.
“Walid Abul Khair”, a Saudi lawyer and lawyer, believes that the phenomenon of poverty in Saudi Arabia means corruption in this country, because it is not reasonable for a country that holds the title of the world’s largest oil producer and exporter to be so poor. He emphasized that there is a special group that uses the wealth of the country, while the majority of the nation does not find anything to meet their needs. He announced the wide gap between the ordinary people of Saudi society and its government and said: We are talking about people whom Forbes magazine has named among the richest people in the world, but the country’s political leadership has taken over all government resources by force and violence and uses them without charge or calculation.