Saturday, 28 January 2023

Gulf royals own more than £1bn of UK property via tax havens | Real estate | The Guardian

Gulf royals own more than £1bn of UK property via tax havens | Real estate | The Guardian


The royal families of Gulf states including Saudi Arabia, the United Arab Emirates and Qatar own more than £1bn of UK property via offshore jurisdictions, such as Jersey and the British Virgin Islands, the Guardian can reveal.

Nearly 200 properties, including hotels, London mansions and country estates, belong to a few small but super-rich dynasties, according to analysis of a new government register that reveals who is behind offshore companies that own UK property.

Gulf royals who hold assets through offshore entities include Sheikh Mansour, the owner of Manchester City football club, members of the Al Saud ruling family of Saudi Arabia, and the al-Thani clan that controls Qatar.

The most expensive is a £150m Surrey estate which, according to Land Registry documents, is owned by Sheikh Mansour’s wife, Sheikha Manal bint Mohammed al-Maktoum.

Sheikh Mansour, who is the deputy prime minister of the UAE, owns 17 other land titles via Jersey, including a London apartment and land connected to urban developments in Manchester.

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