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Khaleej Times
21-04-2025
- Entertainment
- Khaleej Times
'Grandpa robbers' go on trial for Kardashian heist in Paris
A group of suspects nicknamed the "grandpa robbers" goes on trial at the end of April, charged with stealing jewellery worth millions from US reality TV star Kim Kardashian in Paris in 2016. In what the French press has called "the heist of the century", masked men walked away from the luxury Parisian hotel where Kardashian was staying in October 2016 with millions of dollars worth of jewels, including a diamond ring gifted by her then-husband, rapper Kanye West. Kardashian will testify in person at the trial, which opens on April 28, her US lawyer Michael Rhodes said last week. Ten people will be in the dock and the verdict is expected on May 23, with Kardashian set to appear on May 13, according to a provisional schedule. In what has been called the biggest French hold-up targeting an individual in 20 years, Kardashian was robbed of jewellery estimated at 10 million euros (Dh41 million) while she was staying at a luxury residence during Paris fashion week. Among the suspects arrested four months later in Paris and in the south of France is Aomar Ait Khedache, known as "Old Omar", 68, who has admitted to his participation in the heist, but denies the prosecution's accusation that he was also the ringleader. Two investigating magistrates ordered the suspects to stand trial by jury — which in France is reserved for the most serious crimes — on charges including armed robbery, kidnapping, and membership of a criminal gang. On the night of October 2-3, 2016, several men, some impersonating police officers, entered the hotel where Kardashian, who was then 35, was staying during Fashion Week. The star had attended a Givenchy show before returning to the hotel around midnight without her bodyguard who was with her sister Kourtney, also a media personality and socialite. An 'easy' heist Two of the intruders put guns to her head and one, Kardashian later told detectives, addressed her "with a very strong French accent" in English, telling her to hand over her diamond engagement ring. That ring from West, which the influencer had shown off extensively on social media, was estimated to be worth four million dollars. The intruders then tied her up, gagged her and carried her into the bathroom. Three men meanwhile kept watch at the reception, with one waiting at the wheel of a getaway car. The entire robbery lasted around 10 minutes. Kardashian's frequent posts about her wealth, personal life and whereabouts may have facilitated the perpetrators' actions. Ait Khedache later told investigators that the job had been "easy", and nothing like a regular armed robbery. In addition to the ring, which featured a near-flawless 18.88-carat diamond, the group made off with several more pieces of gold and diamond jewellery, including a gold Rolex watch. One of the alleged robbers, Yunice Abbas, now 71, fleeing the scene on a bicycle, dropped a diamond-encrusted cross worth 30,000 euros, which was found by a passer-by a few hours later. The suspected thieves lost a few more items while on the run, but the bulk of the bounty has never been found and is believed to have been sold in Belgium. Abbas later wrote a book, called I kidnapped Kim Kardashian, despite also claiming that he was just one of the lookouts without laying eyes on the star. Another suspect, 69-year-old Didier Dubreucq, also came to the scene by bike and is accused of having been in Kardashian's room, which he denies. The ageing suspects had, according to prosecutors, hoped to make a criminal comeback with the heist. The suspects were identified mostly thanks to their DNA. Of the 12 people originally charged over the robbery, only 10 will be present at the trial after one suspect died and another, 80-year-old Pierre Bouianere, was declared unable to participate in proceedings for health reasons. He will be tried separately.
Khaleej Times
16-03-2025
- Business
- Khaleej Times
Dubai realty shatters records as prices hit new highs
Dubai's real estate market has once again defied global economic headwinds, posting unprecedented growth in February 2025 with sales volumes, prices, and investor activity reaching historic peaks. Fuelled by a booming economy, population influx, and strategic government initiatives, the emirate has bolstered its status as a premier global investment destination. February 2025 saw property sales volumes soar to Dh41 billion, a 17 per cent increase month-on-month (MoM), with 14,929 transactions recorded — a 15 per cent jump from January. Average prices climbed to a record Dh1,505 per square foot, up 1.41 per cent MoM (Dh20.94) and more than double the market's all-time low of Dh716 per square feet in 2019. Off-plan properties dominated sales, accounting for 59per cent of transactions, signalling robust investor confidence in Dubai's long-term growth trajectory. The luxury segment continues to thrive, with villas witnessing a staggering 60 per cent MoM price surge to an average Dh11.48 million, while apartment prices rose 30 per cent to Dh2.26 million. Top-performing communities included Motor City, Jumeirah Village Circle (JVC), and Dubai Marina for apartments, and Jumeirah Golf Estates, The Villa, and Meadows for villas. Dubai's economic resilience underpins its real estate boom. The emirate's GDP grew by 4.2 per cent in 2024, outpacing global averages, while its population swelled to 4.2 million — a 6.0 per cent annual increase driven by skilled expatriates and entrepreneurs capitalising on golden visas and tax-free incentives. Government initiatives like the Dubai 2040 Urban Master Plan, which prioritises sustainable infrastructure and community-centric developments, have further bolstered investor sentiment. Property market experts said Dubai's market is not just recovering—it is redefining itself. 'The convergence of pro-business policies, world-class infrastructure, and a surge in high-net-worth individuals relocating from Europe and Asia has created a perfect storm for growth.' Historically high rental prices have accelerated a paradigm shift toward homeownership. Average annual rents for apartments and villas rose by 22 per cent and 28 per cent respectively in 2024, pushing residents to invest in long-term assets. Betterhomes reported a 25 per cent MoM increase in buyer leads, with end-users comprising 53 per cent of transactions—a notable shift from the investor-dominated market of previous years. Christopher Cina, director of Sales at Betterhomes, noted that the surge in first-time buyers reflects Dubai's evolving identity from a transient hub to a forever home. Communities offering integrated amenities, like Dubai Hills Estate and Palm Jumeirah, are particularly sought after.' Off-plan sales dominated February's activity, with developers like Emaar (Dh4.11 billion), Sobha Group (Dh1.44 billion), and Damac Properties (Dh0.82 billion) leading the charge. International investors accounted for 35 per cent of transactions, with Russians, Indians, and British nationals topping the list. 'Dubai's off-plan market offers unparalleled ROI. Projects near Expo City Dubai and Al Qudra's eco-friendly districts are attracting ESG-focused buyers, blending luxury with sustainability,' says Jaykrishnan Bhaskar, a a property consultant. Despite rising prices, mortgage transactions comprised 64 per cent of sales, driven by competitive lending rates as low as 3.5 per cent for expatriates. The UAE Central Bank's decision to maintain low interest rates in 2024 has kept financing accessible, with banks offering extended payment plans for off-plan purchases. 'Financing is no longer a barrier—it's a catalyst,' head of Mortgage Solutions at a leading bank. 'First-time buyers can secure homes with 15 per cent down payments, while investors leverage flexible terms to expand portfolios.' With Expo City Dubai catalyzing tourism and Dubai's non-oil economy now contributing 78 per cent to its GDP, the emirate's real estate sector shows no signs of slowing. Analysts project a 12–18 per cent price increase in 2025, supported by mega-projects like the Dh30 billion Marsa Al Arab waterfront development. 'Dubai isn't just competing with leading global markets—it's setting a new standard,' adds Bhaskar. 'The fusion of innovation, stability, and ambition makes it the ultimate safe haven for capital.' As the market evolves, one truth remains clear: Dubai's skyline isn't just growing taller—it's growing smarter, greener, and more inclusive, ensuring its reign as the world's most dynamic property market, he said. In January, Dubai's real estate market continued its strong start to 2025, with property sales in February totalling Dh51.1 billion, a 39.91 per cent increase in value on the same month last year. A market update issued today by fäm Properties revealed that last month's total of 16,099 transactions also represented a 35.5 per cent increase in volume over February 2024, making it one of the best-ever months on record.
