Ali Ansari, an Iranian tycoon under UK sanctions for allegedly financing the Islamic Revolutionary Guard Corps (IRGC), has amassed a €400 million property portfolio across Europe, including luxury hotels, a Mallorca golf resort, and prime real estate in Germany and London, according to the Financial Times (FT, 26 January 2026). The UK sanctioned Ansari after the collapse of Ayandeh Bank, which was founded by his family, accusing him of funding “hostile activity” by Iran’s elite Revolutionary Guards and freezing London assets worth more than £150 million.
The FT reports that Ansari used a complex network of offshore companies spanning Luxembourg, St Kitts and Nevis, Austria, Germany, and Spain to acquire his European properties. Notable assets include the Steigenberger golf and spa resort in Mallorca, the Hilton Frankfurt City Centre and Hilton Frankfurt Gravenbruch hotels, the Schlosshotel Kitzbühel in Austria, and a shopping centre in Oberhausen, Germany. Many of these properties are ultimately held through a St Kitts and Nevis company called Smart Global Limited, with UK filings naming Ansari as the ultimate beneficial owner.
Ansari, who according to the UK’s sanctions entry holds passports from Iran, Cyprus, and St Kitts and Nevis, is not under sanction in the European Union. The FT notes: “But the properties are an example of how Iranian tycoons close to the regime have scooped up lucrative assets despite extensive efforts to shut them out of western economies.”
Ansari has denied any financial relationship with the IRGC and intends to challenge the UK sanctions, his lawyer told the FT. The case illustrates the scale of property holdings by Iranian regime-affiliated tycoons in Europe despite international sanctions efforts.
Source: Financial Times, “Sanctioned Iranian banker amassed €400mn European property empire,” 26 January 2026.