March 15, 2018
The French customs service, in cooperation with its Spanish counterpart, confiscated the property of the current Syrian President Bashar Al-Assad’s uncle, which amounted to 600 million Euros. Quoting the French newspaper Le Figaro, the Russian news agency Tass reported that around 503 facilities worth 600 million Euros, owned by Rifaat Al-Assad and his relatives in the Spanish city of Marbella, were confiscated.
The agency pointed out that there is also talk about hotels, restaurants and luxury acquisitions.
In April 2017, the Spanish National Judicial Council opened an investigation into the case of money laundering by Rifaat Al-Assad. The Spanish authorities froze the bank accounts of 16 people and 76 institutions associated with the name of Al-Assad’s uncle. It also opened an investigation into his property in Marbella and Puerto Banus towns.
Syrian city at the heart of Spain
Rifaat al-Assad, 80, planned to build a huge housing complex to house Syrians belonging to his sect. He has chosen lands where Spanish spruce and cork trees flourish. These lands occupy one third of Benahavis municipality, located in Malaga province in the southern Andalusia region of Spain. According to the statements of the judge of the Spanish National Court, Rifaat owns some of the most expensive lands in the city that is located on the coasts of Costa del Sol and adjacent to the luxury town of Marbella, which has become a model of extreme luxury, and aspires to build a “Syrian city” with the utmost caution and secrecy.
A decision was made by the Spanish court to seize the properties of Al-Assad, including 16 properties in Marbella and Puerto Banus. In this regard, a Spanish judge revealed that Rifaat Al-Assad had committed himself to continuing the “legal struggle” in this case as he is accused of turning his “real estate machine,” which consists of 3,300 hectares worth 60 million Euros, into a private urban area. The areas controlled by Rifaat Al-Assad have already been registered as areas of public interest, according to the European classification. In addition, the Andalusian government has incorporated these properties within the areas of special protection.
The source of Rifaat Al-Assad’s funds
On the other hand, the Spanish judge confirmed that the main source of Rifaat Al-Assad’s wealth is the money looted from the coffers of the Syrian state provided by his brother Hafez Al-Assad before sending him into exile, and which is estimated at 300 million Euros.
In a similar vein, many people in the Spanish society and those who dealt with him in the business field reported that he was not proficient in negotiating in this area and had his own strategy of non-discipline. In this regard, one of the parties which had negotiated with him in business explained that “it is possible to agree on the first day about a certain price, and he comes the next day to ask you double the amount agreed upon.” These parties also revealed that he followed a relatively austere pattern of consumption in his daily life in Marbella.
In general, a businessman who was surprised by the size of the properties of Rifaat Al-Assad, which includes at least 503 facilities located in Marbella and Puerto Banos, stated that “Rifaat Al-Assad and the businessmen Adnan Khashogg are incomparable, as Rifaat has no friends and I always see him having dinner alone in Puerto Banus, accompanied only by his bodyguard and his driver. The same source added that “the authorities must deal with all the hotel apartments he possesses as individual property.”
In addition to the “amazing real estate machine,” Rifaat Al-Assad owns the Panapola Hotel in Puerto Banus, a 4-Star hotel consisting of 101 apartments and 247 parking spaces. Besides, Al-Assad owns a residential building under the name of Gerry de Albion, in the same sports port in Marbella where he lives.
Moreover, Rifaat Al-Assad owns the parking spaces in Marbella Harbor. Recently, he has sold some of the land for construction in the Milla de Oro area of Marbella, near the Marbella Club Hotel. According to sources familiar with the deal, the sale was made at a price much lower than the prices offered in the market in this area. In addition, Rifaat Al-Assad managed to administer the Beach Club Bar at the Penapola Hotel, the Hollywood Café and other hotel companies based in Puerto Banus, but some of them are now closed due to losses.
Source: Middle East Monitor.
Link: https://www.middleeastmonitor.com/20180315-spain-confiscates-property-of-bashar-al-assads-uncle/.
The French customs service, in cooperation with its Spanish counterpart, confiscated the property of the current Syrian President Bashar Al-Assad’s uncle, which amounted to 600 million Euros. Quoting the French newspaper Le Figaro, the Russian news agency Tass reported that around 503 facilities worth 600 million Euros, owned by Rifaat Al-Assad and his relatives in the Spanish city of Marbella, were confiscated.
The agency pointed out that there is also talk about hotels, restaurants and luxury acquisitions.
In April 2017, the Spanish National Judicial Council opened an investigation into the case of money laundering by Rifaat Al-Assad. The Spanish authorities froze the bank accounts of 16 people and 76 institutions associated with the name of Al-Assad’s uncle. It also opened an investigation into his property in Marbella and Puerto Banus towns.
Syrian city at the heart of Spain
Rifaat al-Assad, 80, planned to build a huge housing complex to house Syrians belonging to his sect. He has chosen lands where Spanish spruce and cork trees flourish. These lands occupy one third of Benahavis municipality, located in Malaga province in the southern Andalusia region of Spain. According to the statements of the judge of the Spanish National Court, Rifaat owns some of the most expensive lands in the city that is located on the coasts of Costa del Sol and adjacent to the luxury town of Marbella, which has become a model of extreme luxury, and aspires to build a “Syrian city” with the utmost caution and secrecy.
A decision was made by the Spanish court to seize the properties of Al-Assad, including 16 properties in Marbella and Puerto Banus. In this regard, a Spanish judge revealed that Rifaat Al-Assad had committed himself to continuing the “legal struggle” in this case as he is accused of turning his “real estate machine,” which consists of 3,300 hectares worth 60 million Euros, into a private urban area. The areas controlled by Rifaat Al-Assad have already been registered as areas of public interest, according to the European classification. In addition, the Andalusian government has incorporated these properties within the areas of special protection.
The source of Rifaat Al-Assad’s funds
On the other hand, the Spanish judge confirmed that the main source of Rifaat Al-Assad’s wealth is the money looted from the coffers of the Syrian state provided by his brother Hafez Al-Assad before sending him into exile, and which is estimated at 300 million Euros.
In a similar vein, many people in the Spanish society and those who dealt with him in the business field reported that he was not proficient in negotiating in this area and had his own strategy of non-discipline. In this regard, one of the parties which had negotiated with him in business explained that “it is possible to agree on the first day about a certain price, and he comes the next day to ask you double the amount agreed upon.” These parties also revealed that he followed a relatively austere pattern of consumption in his daily life in Marbella.
In general, a businessman who was surprised by the size of the properties of Rifaat Al-Assad, which includes at least 503 facilities located in Marbella and Puerto Banos, stated that “Rifaat Al-Assad and the businessmen Adnan Khashogg are incomparable, as Rifaat has no friends and I always see him having dinner alone in Puerto Banus, accompanied only by his bodyguard and his driver. The same source added that “the authorities must deal with all the hotel apartments he possesses as individual property.”
In addition to the “amazing real estate machine,” Rifaat Al-Assad owns the Panapola Hotel in Puerto Banus, a 4-Star hotel consisting of 101 apartments and 247 parking spaces. Besides, Al-Assad owns a residential building under the name of Gerry de Albion, in the same sports port in Marbella where he lives.
Moreover, Rifaat Al-Assad owns the parking spaces in Marbella Harbor. Recently, he has sold some of the land for construction in the Milla de Oro area of Marbella, near the Marbella Club Hotel. According to sources familiar with the deal, the sale was made at a price much lower than the prices offered in the market in this area. In addition, Rifaat Al-Assad managed to administer the Beach Club Bar at the Penapola Hotel, the Hollywood Café and other hotel companies based in Puerto Banus, but some of them are now closed due to losses.
Source: Middle East Monitor.
Link: https://www.middleeastmonitor.com/20180315-spain-confiscates-property-of-bashar-al-assads-uncle/.
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