tariq nadeem
MPA (400+ posts)
I was watching Capital Talk where Parvez Rashid trying to answer about funds to buy properties of Hussain and Hasan Nawaz lied openly. He said properties in London were very cheap back then and funds from sale of steel mill in Jeddah were used to buy those properties on mortgage.
Now forget few things here like how a steel mill was bought on borrowed money in 2001 and within 4 years they not only paid the loans back but sold it for such a huge sum that enough money was left to pay deposit for three properties in London. Coming to the point as someone living in England claim that properties were cheap in London in 06 compared to today is ludicrous.
I bought a property in 2002 just before the boom and sold it in 06 at four times price of purchase. Property in this country was booming till 2008 crash. Anyone living here would confirm that prices were at all time high in 2005/2007.
And no mention of funds that were used to set up them offshore companies. May be they came from sale of that magic steel mill lol.
Now forget few things here like how a steel mill was bought on borrowed money in 2001 and within 4 years they not only paid the loans back but sold it for such a huge sum that enough money was left to pay deposit for three properties in London. Coming to the point as someone living in England claim that properties were cheap in London in 06 compared to today is ludicrous.
I bought a property in 2002 just before the boom and sold it in 06 at four times price of purchase. Property in this country was booming till 2008 crash. Anyone living here would confirm that prices were at all time high in 2005/2007.
And no mention of funds that were used to set up them offshore companies. May be they came from sale of that magic steel mill lol.
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