Sultan of Brunei, Who Passed Anti-LGBT Laws, Owns Slew of Luxury UK Properties

THE GUARDIAN: Hassanal Bolkiah, who believes gay people should be stoned to death, is assisted by leading City auditing firms

The architect of new laws mandating the stoning to death of gay people in Brunei has billions of pounds of property wealth in the UK, shares in a leading tech fund and gets assistance from City auditing firms, a Guardian analysis has found.

Hassanal Bolkiah, the sultan of Brunei, owns a slew of properties in the super-rich enclaves of Kensington and Ascot, including luxury hotels and polo parks. One property alone could be worth an estimated £500m in rent each year.

He has also invested millions of pounds in Draper Esprit, a tech-focused venture capital fund with holdings in Trustpilot and the financial services firm Revolut. Until recently his global hotel empire was audited by the accountancy firm PricewaterhouseCoopers.

Bolkiah has become an international pariah for his implementation of sharia laws, including the stoning to death of people thought to be gay or to have committed adultery, in the country he has ruled as a supreme monarch for decades. » | David Pegg, Hilary Osborne and Caelainn Barr | Sunday, April 14, 2019

Stop Rich Overseas Investors from Buying Up UK Homes, Report Urges

THE OBSERVER: Rightwing thinktank proposes curbs on non-EU residents to open up more of housing market to Britons

Radical plans to stop rich overseas residents who live outside the EU buying British houses – as well as tight restrictions on them acquiring "newbuild" properties as investments – will be published in a report by a leading rightwing thinktank on Monday.

Free-market organisation Civitas castigates government ministers for allowing wealthy foreign investors to stoke a property boom that it says is driving up prices and locking millions of UK citizens out of the housing market.

The plans would prevent the likes of Roman Abramovich, owner of Chelsea football club, or other Russian oligarchs from adding to their multimillion-pound UK portfolios. They also aim to stem a flood of investment from countries such as China, Malaysia and Singapore.

Concerned that many middle and lower earners are being forced to pay high rents in London because they can't afford to buy, Civitas calls on ministers to adopt a scheme similar to one operating in Australia, which ensures that no sale can take place to overseas buyers unless they can show that their investment will add to existing housing stock.

Such a system would mean that no existing home could be sold to a buyer from outside the EU, and that such buyers could acquire newbuild homes only if their investment led to one or more additional properties being built. » | Toby Helm, political editor | Saturday, February 01, 2014