Hamas terrorism funded through UAE property firm
HAMAS, the Palestinian terrorist group, used a real-estate firm in the UAE as part of a network of front companies to fund its military wing.
The £400 million international finance network, known as the Hamas Investment Office, was exposed by the US State Department.
The US has now sanctioned six companies and four individuals in Turkey, Saudi Arabia, the UAE, Sudan and Algeria, for funnelling money to Izz-al-din Al-qassam Brigades, the terrorist group’s military arm.
Itqan Real Estate in the UAE, located north of Dubai, offered large gated villas worth in excess of £1million to £2 million for cash.
Five-bedroom villas with eight bathrooms were being sold, all with lavish marble flooring.
Adverts stated: “You can buy by cash or bank with no down payment.”
According to the State Department, in mid-2019, Hamas investment portfolio managers considered selling one of Itqan’s highest-value buildings, valued at $150million (£120million). “While Palestinians in Gaza face harsh living and economic conditions under Hamas, the terrorist group has amassed hundreds of millions in its secret investment portfolio,” Ned Price, a State Department spokesman, said.
“Hamas maintains a violent agenda that harms both Israelis and Palestinians.”
Around half of Gaza’s two million population, ruled by Hamas, lives below the poverty line with about 97 per cent unable to access clean water and 68.5 per cent considered to be short of food, according to the Borgen Project charity.
Meanwhile, the group’s chiefs are amassing wealth in the millions.
Leaders and fundraisers based both inside and outside Gaza such as Khaled Mashal, Musa Abu Marzook and Ismail Haniyeh, who rules from Istanbul and Doha, are said to be worth about £3million with assets around the world.
Bassem Eid, a Hamas official, said: “Hamas has no relations to these institutions or people – but it’s not acceptable to impose embargoes on any financial resources for the Palestinian people under the allegations of relations to factions or terrorism.”