Azerbaijani president’s children buy Dubai property

Sunday, 7 March 2010 9:39 AM

PRIME SPOT: The president of Azerbaijan's son has nine luxury waterfront mansions on the manmade Palm Jumeirah registered under his name.

The president of Azerbaijan’s three young children have reportedly bought $75m worth of properties in Dubai, with his 11-year-old son said to have bought nine mansions on the manmade Palm Jumeirah.

The Washington Post said at the weekend that last year nine luxury waterfront mansions on the manmade Palm Jumeirah, valued at $44m, were registered with Dubai Land Department in the same name of Heydar Aliyev, which is the same name as the 11-year-old son of Azerbaijani president Ilham Aliyev

The US newspaper said the registered owner's date of birth is also the same as the president's son.

Officials in Baku, the capital of the former Soviet state, declined to comment when contacted by the Washington Post.

However, the report pointed out that Ilham Aliyev's annual salary as president is approximately $228,000, while the value of the properties bought by the young landowner is equivalent to around 10,000 years' worth of salary for the average Azerbaijani.

Dubai Land Department also has files in the name of Leyla and Arzu Aliyeva, the president’s daughters. In total around $75m worth of property in Dubai is registered in the names of the president’s children, according to the report.

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Posted by: Tony Monday, 8 March 2010 2:06 PM[UAE]

I hope they were not playing a game of monopoly.

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Posted by: M Sag Monday, 8 March 2010 8:04 AM[UAE] - UAE

Your news quoted the annual salary as president bieng approximately $228,000, ( which is somewhat equals to AED 1 Million). Unless the president has inherent assests or hefty bank balance, such a purchase is quite impossible. As the rumours go abound follwoing the news of such out-right buying of Dubai properties by rich and famous incluidng all those celebrities, one cannot be blamed for suspecting that this is another marketing strategy involving endorsemnt campaigns. Could it be that the property is given gratis ?

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Posted by: Obelix Sunday, 7 March 2010 3:58 PM[UAE]

See, this is what happens when you give too much money in the hands of the kids. They don't know what they are doing and do all sorts of things to the market.

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Posted by: W.Ingram Sunday, 7 March 2010 3:07 PM[UAE] - UAE

I have recently brought property in Both the UK and in the Philippines and have had to PROVE where the money has come from. Is the UAE excempt such international laws. I don't think so...

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Posted by: Mi7aeel Sunday, 7 March 2010 2:44 PM[UAE] - UAE

What the law ALLOWS and what the law doesn't RESTRICT are all legal. How the buyer(s) got the funds is NOT the seller's responsibility, unless the LAW of the buyer requires a due diligence on the source of funds for the buyer (which would probably bankrupt many countries called "fiscal havens"). Moral principles are no doubt important but they have no place in the subject herein. If someone was arguably "immoral" here, it was neither the seller, nor the Dubai Land Department. And if the funds are legal or not, it is something to be questioned at the source, not at the destination - again, all subject to the seller's applicable LAW.

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