2024-11-04 04:45:00
It is the story of two glass and concrete skyscrapers named “Act One” and “Act Two”, in reference to the two-act ballets performed at the nearby opera house. Around fifty floors high, they will be built in 2022, in a district of Dubai that some local developers readily describe as “the most prestigious square kilometer in the world”.
Light marble floors, large balconies, gyms and outdoor swimming pools… A large part of the 778 apartments had been sold even before construction. Around a hundred nationalities rub shoulders there today. Americans, Chinese, Saudis, Pakistanis, and also a handful of French. Among the latter, some are owners with a particular profile, who have stood out by purchasing entire floors. These are neither wealthy footballers nor classic investors looking for profitability: all are linked to drug trafficking in France.
Their presence in Dubai attracted the attention of the French justice system, determined to get their hands on the millions of euros thus invested in the stone. According to information from Mondethe Marseille prosecutor’s office opened, in July, an investigation into the real estate assets of several local drug trafficking figures holding property in Dubai, specifically in the famous Act One and Act Two. These investigations, entrusted to the Anti-Narcotics Office (Ofast), relate to facts of “laundering of drug trafficking and organized gang laundering against several members of a major cannabis trafficking network”confirms the prosecution, which adds that a “request for international criminal assistance has been formalized for the United Arab Emirates”in order to identify the complete assets of the people in question.
Several major players in the Oliviers network – named after a city in the northern districts of Marseille known as a major point of sale for cannabis, cocaine and MDMA – are at the heart of the investigation.
View of the Act One and Act Two towers in Dubai, March 10, 2022. OLE MARTIN WOLD
Among them, Amdjad A., who appeared in March before the Marseille criminal court. This man in his thirties then admitted his involvement in trafficking and his role as“transport and delivery intermediary” of narcotics to the Oliviers network. He also admitted to working with other networks in Marseille, Nice or Lyon. But he was less cooperative about the money he earned. In a telephone conversation intercepted by the police, his wife nevertheless mentioned real estate acquired in Dubai. Questioned about this, the defendant denied any investment of this type. He was sentenced to eight years in prison, without the courts having been able, to date, to confirm this lead.
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**Interview with Dr. Clara Dupont, Criminal Investigator specializing in Drug Trafficking**
**Interviewer**: Good morning, Dr. Dupont. Thank you for joining us today to discuss the recent findings regarding drug trafficking and real estate investments in Dubai’s Act One and Act Two developments.
**Dr. Dupont**: Good morning! Thank you for having me. This is a pressing issue that deserves attention.
**Interviewer**: To start, can you tell us what sparked the investigation by the French prosecutor’s office into these luxury properties in Dubai?
**Dr. Dupont**: Certainly. The investigation was initiated because several individuals linked to drug trafficking in France, particularly in Marseille, have been identified as significant investors in these high-end developments. Given the staggering amounts of money involved, officials are concerned about how drug money is being laundered through real estate.
**Interviewer**: What makes Act One and Act Two particularly attractive to these investors?
**Dr. Dupont**: The luxury and prestige of these properties are key factors. Located in what is marketed as “the most prestigious square kilometer in the world,” they offer lavish amenities, an international mix of residents, and a potential for value appreciation. This makes them ideal for individuals seeking to legitimize illicit earnings.
**Interviewer**: How does this situation tie back to international laws, particularly with regard to narcotics?
**Dr. Dupont**: It raises significant legal questions, especially in light of international anti-drug trafficking laws. As you mentioned earlier, under Federal Law No. 14 of 1995 in the UAE, there are strict regulations against the trade of narcotics. However, the challenge arises in cross-border enforcement and the complexities of international property laws that can sometimes protect these investments from scrutiny.
**Interviewer**: What can you tell us about the response from local authorities in Dubai to these allegations?
**Dr. Dupont**: Local authorities have been relatively quiet thus far. There may be ongoing investigations, but the UAE typically maintains a stance that emphasizes its commitment to combating crime. This case may push them to take a closer look at the origins of wealth entering their real estate market, especially from outside sources.
**Interviewer**: Dr. Dupont, what do you think are the implications of these investigations for the future of real estate in Dubai?
**Dr. Dupont**: If the investigations reveal significant ties between organized crime and luxury property investments, we could see stricter regulations and monitoring of foreign investments in Dubai’s real estate market. This could alter the landscape significantly and impact not just high-net-worth individuals, but the property market as a whole.
**Interviewer**: Thank you, Dr. Dupont, for shedding light on this complex issue. We appreciate your insights.
**Dr. Dupont**: Thank you for having me!
