Dirty money from Russia and Europe floods Dubai property market – The Independent

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The beginning of the newspaper The Independent and an article written by Borzo Dragahi highlights a research prepared by a group of researchers who say that dirty money from Russia and Europe is flooding the real estate market in Dubai.

The research, released this week and co-authored by the Center for Advanced Defense Studies (C4ADS) and a coalition of news organizations led by Norwegian news site E24 and the Organized Crime and Corruption Reporting Project, shows that while Dubai (one of seven Emirates that make up the United Arab Emirates) has a population of 3.5 million people. Only a million people, they account for up to 3 percent of the global overseas real estate market.

The research, which obtained the data with the help of confidential sources in the Emirates, which was the basis for its idea, reveals that “Dubai’s real estate market is a major haven for corrupt rulers around the world, transnational organized crime, and a wide range of other illegal actors – from drug dealers to oligarchs.” The Russians.”

The research notes that these networks, entities and individuals “come to the UAE in search of the advantages that Dubai offers, such as high levels of secrecy, loopholes in law enforcement and the use of luxury real estate as a means of storing and concealing wrongdoing.” was. profits.”

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