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Another Begum Para in the making in Dubai | The Business Standard

In 18 months of Covid pandemic, Bangladeshi nationals have topped real-estate and housing investment in Dubai – a city known for luxury shopping, ultramodern architecture and a lively nightlife scene, according to Dubai public document and newspaper ranking. Since the investment worth 123 million UAE Dirham, or around Tk288 crore, did not land on the Persian Gulf coast city through the official channel, the investment must be dirty, say experts. According to them, the ranking riding on dirty money symbolises a few things: many people in the country had deep pockets even amid the virus shock, they felt their wealth was not secure in Bangladesh and a second home means a safe exit to a new and luxurious life from a chequered past. With a legal vacuum about foreign investment secrecy and easy residential offers, Dubai matches with their potential destinations. The buyers are mostly businessmen, politicians and bureaucrats, said Bangalee community sources in Dubai. Almost similar reasons, plus a legal shield to dirty money, gave rise to the infamous “Begum Para” in Canada’s Toronto, a safe abode to many Bangladeshi nationals and their families with laundered money. Read more: https://www.tbsnews.net/bangladesh/co... #dubaiinvestment #dubairealestateinvestments #Bangladesh #news Connect with us on : Facebook -   / tbsnews.net   Instagram -   / thebusinessstandard   Twitter -   / tbsnewsdotnet   Pinterest -   / tbsnews   Linkedin -   / the-business-standard   SUBSCRIBE NOW! For more updates TURN the Notification BELL 🔔 ON AND 👉 don’t forget to Subscribe, Follow, Share, Comment & Like to stay with us. Contact Us - The Business Standard Main Office 4/A, Eskaton Garden, Dhaka 1000 Phone: +8801847 416158 – 59 Send Opinion articles to - [email protected] For advertisement- [email protected]