ISLAMABAD: Former Finance Minister Ishaq Dar son Ali Mustaf Dar hasadmitted that his company — Hazrat Data Sahib (HDS) acquired 52 ‘villas’ inthe United Arab Emirates (UAE) in early 2000s by pumping millions ofdirhams into real estate business but later sold out this property in 2008.

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

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

13 offshore companies in Dubai were held by them. Hussain Nawaz, son ofex-prime minister Nawaz Sharif and his son-in-law MNA Cap (R) Safdar werealso employed in HDS Securities Pvt Ltd which owned 52 villas in Dubai,Khan claimed.