School boy buys USD44 million worth Dubai property
07 March 2010
An 11-year-old school going boy has purchased properties to the tune of 44 million USD in Dubai's ultra glam Palm Jumeirah.
The boy named Heydar Aliyev is being speculated as the son of Azerbaijan’s president, Ilham Aliyev, according to unconfirmed media reports.
The nine waterfront mansions on Palm Jumeirah, Dubai’s iconic luxury real estate development is one of the world's most expensive and plush real estate.
When the Dubai state agencies asked officials in Baku, the capital of Azerbaijan, they declined to comment on inquiries into how the president’s son (or at least, a young Azerbaijani boy) could have bought the development.
According to The Post, Ilham Aliyev’s annual salary as president is about $228,000, far short of the amount needed to buy even the smallest Palm property.
The president’s spokesman Azer Gasimov declined to respond to The Post’s inquiries as well.