Ali Dar admits 52 villas booked in UAE

ISLAMABAD: Ali Mustaf Dar has admitted that his company — Hazrat Data Sahib (HDS) acquired 52 ‘villas’ in the United Arab Emirates (UAE) in early 2000s by pumping millions of dirhams into real estate business but later sold out this property in 2008.

“The 52 villas were not bought, they were booked actually for business purpose in Dubai. Only a token payment of estimated AED5 million per villa were paid and it is a common practice in the UAE,” Ali Dar told this correspondent exclusively.

Both the son and his father Finance Minister Ishaq Dar, however, strongly denied the allegations leveled by Pakistan Tehreek-e-Insaf (PTI) on Friday claiming that the business empire was established through laundering billions of rupees from Pakistan to Dubai.

The documents available with Geo News revealed that Ishaq Dar and his sons once owned 13 offshore companies in Dubai. Hussain Nawaz, son of ex-prime minister Nawaz Sharif and his son-in-law MNA Cap (R) Safdar were also employed in HDS Securities Pvt Ltd which owned 52 villas in Dubai, Khan claimed.

“Board of Directors of HDS Estates Limited (the company) held a board meeting on November 20, 2007 on 13th floor, Al Attar Business Tower, Sheikh Zayed Road and unanimously passed the resolutions: 1) It was resolved that Ali Mustafa Dar is hereby authorised singly to enter into Memorandum of Understanding (MoU) and or sales purchase agreement with any potential buyers of the 52 villas acquired by the company — it was further resolved that Ali Dar is authorised to sign singly on behalf of the company in-front of Emaar properties PJSC, Dubai Land Department and or any other authorities for the purpose of transfer/sale of 52 villas,” read the HDS Estate Limited Board Resolution available with this correspondent.

Other offshore companies named Jupiter Estate Ltd, HDS Tower Management LTd, Svcs and Trade Coy Ltd, Baraq Holding Ltd, Int Investment Holding Ltd, Technobuild Space Ltd, Mars Estate Ltd, HDS Galestates Ltd and Petro Planet DMCC established in Jabel Ali Free Zone Authority and two companies in DMCC Free Trae Zone Dubai.

“This is a joint-venture between Sharifs and Dars, Nawaz’s daughter is married to Dar’s son. He is Nawaz Sharif’s front-man,” PTI Chairman Imran Khan claimed in his presser on Friday. “The money he receives comes in from different countries including United Kingdom, Switzerland, Oman, Turkey and UAE,” claimed the documents.

But Ali Dar made it clear as saying, “Sharifs’ family did not share any business adventure with his family.” He claimed that Imran Khan was lying that the funds came from Switzerland, not a single penny came from there.

Ali Dar also told this correspondent that they held documentary proof of all the properties acquired by his company engaged in real estate in the UAE. Documents obtained from the Jabel-e-Ali Free Zone Authority further revealed that around forty employees, held nationality of different countries, particularly Indians, were also serving in HDS securities Pvt Ltd.