Besides Avenfield, Sharif family owns several prime properties in UK

Former prime minister Nawaz Sharif and his family have amassed a vast property empire in London and several other locations, a British newspaper has revealed.

Despite the infamous Avenfield properties which are currently being probed in an accountability court, the family owns several other properties at some the ‘swankiest’ addresses in London.

According to Daily Mail, the family have bought at least 21 UK properties on top of the Avenfield flats, most at equally grand Central London locations, in Mayfair, Chelsea and Belgravia.

The total value of the properties is estimated at at least £32 million.

The family has made huge profits from other sites which have not figured in court, such as the swankiest address of all, One Hyde Park Place, which Nawaz Sharif’s son Hassan sold for £43 million.

“Untangling the web of the Sharifs’ British real estate portfolio is not easy. The properties are registered via a bewildering network of companies, trusts and bank accounts,” said the daily.

The report said that Avenfield is where Nawaz Sharif has lived with his sons since 1993, having “knocked four luxury flats together to make single mansion, now worth at least £7 million.”

He shares it with his sons, Hassan and Hussain, his daughter Maryam and her husband Muhammad Safdar, all five are under investigation for money-laudering.

The reports states that the Sharifs have for years moved their money in and out of Britain, Switzerland, the Middle East and the British Virgin Islands.

Rachel Davies Teka, of global anti-corruption group Transparency International, said that this is not just a tale of dirty politics and allegedly dirtier money in a foreign land, but money laundering has a devastating impact on the UK capital as well.

‘The flow of dirty money into the property market contributes to the wider issues of empty homes, and the distortion of developer priorities away from affordable housing and towards luxury properties,’ he said.

‘We have identified UK property worth £4.4 billion that has been bought by those representing a high money laundering risk. This is likely to be the tip of the iceberg.’

However, Britain seems to be doing little about the Sharif inquiry, although it has committed to stemming the flow of dirty money and assist overseas investigators.

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