Afghan President Karzai Owns Real Estate Property In Dubai

The family of the afghan president owns more than a dozen villas in gulf region that includes Dubai. This has raised fears that the western aid to war torn nation Afghanistan is getting misused. As per the reports, the property empire of the president in Dubai is worth 90 million pounds. The centerpiece of the holdings is a portfolio of 14 villas on the Palm Jumariah, Dubai’s showpiece property development, registered in the name of Sher Khan Farnood, the former chairman of Kabul Bank. Kabul Bank also owns an apartment, two business plots and a loss-making airline, Pamir Airlines, in Dubai. Mahmoud Karzai, President Karzai’s brother and the third-largest shareholder in the bank, like Mr Farnood, 46, occupies a “Signature” villa valued at up to £4 million. Other properties are valued between £3million and £1million. He also made a £500,000 profit following the sale of a Dubai Marina bought with a loan from Kabul Bank. Mahmoud Karzai is not the only member of an Afghan political family living in villas distributed across the development where David Beckham, Michael Schumacher, Brad Pitt and Angelina Jolie are also owners. Your browser may not support display of this image.