Bakr Mohammed Bin Laden owns Woodside House in Glasgow through a network of offshore firms, according to the Daily Record.
The businessman – whose half-brother organised the 9/11 attacks in New York before being assassinated by US special forces – bought the land the apartments are built on in 2014.
The accommodation, which opened earlier this year, is rented to wealthy students.
Bakr, 68, oversaw the deal using a UK-registered company called Kelso Estates.
He paid £1.5 million for the site - previously home to the Pewter Pot pub in the city’s west end.
Kelso have two Saudi nationals as directors and are owned by British Virgin Islands-registered Rambala Ltd.
The flats are being run for the businessman by property management company Collegiate AC.
It has been reported that chief executive Heriberto Cuanalo confirmed he was working in partnership with the Bin Ladens.