According to the newspaper, the findings reveal activities of a network of offshore companies linked to Aliyev's family and associates.
One of the properties is said to have been sold to the Queen's crown estate.
The Organized Crime and Corruption Reporting Project (OCCRP) said, citing the Pandora Papers, that Aliyev’s family and associates have owned 84 previously unknown offshore companies since 2006, registered in the British Virgin Islands.
Some of these offshore companies were recently closed and some of Aliyevs’ properties have been sold, according to OCCRP, which says that as of 2017, the Aliyevs had transferred about $191 million in real estate to a secret fund that was created and controlled by the president's father-in-law.
On Saturday, the International Consortium of Investigative Journalists (ICIJ) published a new leak on the alleged financial secrets of over 35 current and former world leaders, as well as more than 330 politicians and officials from across the globe.