ISLAMABAD – Malik Riaz’s real estate fortress weakens as six Bahria Town assets have been sold for Rs1.3 Billion, despite several attempts to block property giant.
National Accountability Bureau (NAB) started high-stakes auction of prized assets belonging to embattled Malik Riaz, sending shockwaves through Pakistan’s property sector.
These properties have already gone under the hammer, fetching jaw-dropping sums
- Bahria Town Corporate Office II in Rawalpindi was sold for a staggering Rs880.6 million.
- Luxurious Rubaish Marquee & Lawn, nestled near the Bahria Garden City Golf Course in Islamabad, sold for over Rs500 million.
Sales have already raked in over Rs1.3 billion and this is just the beginning. Sources within NAB hint that more mega-properties are set to be auctioned before the day ends, with expectations that total proceeds could soar even higher.
This unprecedented auction follows a powerful ruling by the Islamabad High Court (IHC) earlier this week, granting NAB full authority to liquidate Bahria Town assets linked to Malik Riaz. The court’s green light marks a major blow to one of Pakistan’s most controversial and influential businessmen.
With more properties lined up and the nation watching closely, today’s events could signal the collapse of a real estate empire once thought untouchable.
Bahria Town moves Supreme Court
Before auction, Bahria Town filed an urgent petition in the Supreme Court to stop the auction of its properties following a ruling by the Islamabad High Court in favor of the National Accountability Bureau (NAB).
The auction was linked to £190 million settlement involving company founder Malik Riaz. Bahria Town warns that the auction could lead to severe financial collapse, halted operations, and unpaid staff, affecting essential services in its housing projects.
The company’s downfall could destabilize real estate sector, while residents and investors grow increasingly anxious.
Bahria Town shutting down operations in Pakistan after prolonged ‘battle for survival’
