Islamabad, 5 August: The National Accountability Bureau (NAB) has announced the auction of six prime Bahria Town properties, owned by real estate magnate Malik Riaz, scheduled for August 7 in Rawalpindi.
The properties, including Bahria Town’s corporate offices, Arena Cinema, Safari Club, Rubaish Marquee, and Bahria International Academy in Rawalpindi, along with one asset in Islamabad, are part of NAB’s efforts to recover funds linked to a defaulted plea bargain in the £190 million Al Qadir Trust case.
The decision follows a significant legal victory for NAB. In June, an initial auction attempt was stalled by a stay order from the Islamabad High Court after Bahria Town argued it was not directly involved in the corruption case.
However, on August 5, the court dismissed four related petitions, paving the way for the sale. NAB’s aggressive push to seize assets stems from allegations of large-scale fraud, illegal land acquisitions, and money laundering, with claims that funds were diverted to Riaz’s projects in Dubai.
READ MORE: Bahria Town Opens New Headquarters in Dubai
Malik Riaz, currently a fugitive in the UK case and residing in Dubai, faces mounting legal challenges. NAB has frozen hundreds of Bahria Town bank accounts, confiscated luxury vehicles, and sealed properties in Karachi, Lahore, and other cities. Non-bailable arrest warrants have been issued for Riaz, his son Ali Ahmed Malik, and others, with accountability courts in Karachi and Islamabad demanding their appearance.
The auction, set to take place at NAB’s Rawalpindi office, has sparked widespread debate. Notices displayed on the sealed properties emphasize NAB’s commitment to recovering public funds and protecting citizens’ rights. While some view the move as a step toward accountability, others see it as a targeted campaign against one of Pakistan’s most influential businessmen.
The properties to be auctioned include Bahria Town Corporate Office (Plot No. 7-D and 7-E, Park Road, Bahria Town, Phase II, Rawalpindi), Rubbish Market and Lawn (Bahria Garden City, near Bahria Garden City Golf Course, Islamabad), Arena Cinema (Plot No. 984-Broad-A, Bahria Town, Phase-IV, Rawalpindi), Bahria Town International Academy (Jasmine Street and Silver Oaks Road, Zero Villas I, Bahria Town, Rawalpindi), and Safari Club (Plot No. 27, Phase Safari Villas, Bahria Town, Rawalpindi).
NAB officials stated that the auction is part of ongoing efforts to address financial irregularities.
As the August 7 auction approaches, the outcome could reshape the legacy of Bahria Town and signal a turning point in Pakistan’s fight against corruption.
