NAB to Auction Malik Riaz’s Bahria Town Properties

The National Accountability Bureau (NAB) has officially announced the auction of high-value properties belonging to property tycoon Malik Riaz, the founder of Bahria Town. The auction, set for August 7, 2025, follows Malik Riaz and his son Ali Riaz’s failure to fulfill the financial obligations of a plea bargain in the high-profile £190 million Al-Qadir Trust case.

The Islamabad High Court (IHC) recently gave NAB the go-ahead to proceed with the sale after initially halting the auction process earlier this year. The auction will take place at the NAB Rawalpindi Office in Sector G-6/1, Islamabad.

According to official sources and a public notice issued by NAB, the properties up for auction include:

• Bahria Town Corporate Office II, Plot No. 7-D, Park Road, Phase II, Rawalpindi
• Bahria Town Corporate Office, Plot No. 7-E, Park Road, Phase II, Rawalpindi
• Rubbish Market & Lawn, near Garden City Golf Course, Islamabad
• Arena Cinema, Plot No. 984-Broad-A, Phase IV, Rawalpindi
• Bahria Town International Academy, Jasmine Street & Silver Oaks Road, Safari Villas I, Rawalpindi
• Safari Club, Plot No. 27, Safari Villas, Rawalpindi

These properties were attached in connection with the plea bargain linked to the Al-Qadir Trust case, after Malik Riaz failed to pay the agreed-upon settlement amount.

A division bench of the IHC, led by Chief Justice Sardar Muhammad Sarfraz Dogar, heard arguments from both sides and eventually reserved its verdict, which paved the way for the auction to proceed. Bahria Town’s legal representative, Farooq H. Naik, argued that:

• Bahria Town was not directly named in the case.
• The auction process was “illegal and deceptive.”
• The properties were pledged by a third party (Mr. Zain), whose application to cancel the plea bargain is still pending.

Despite these objections, NAB’s prosecutor Rafay Maqsood defended the bureau’s actions under Section 33E of the NAB Ordinance 1999, citing a legitimate need to recover the unpaid amount.

In a dramatic statement following the court’s decision, Malik Riaz took to social media, expressing deep concern over the devastating impact of the crackdown on Bahria Town’s operations nationwide.

“We are now one step away from completely shutting down all Bahria Town activities across Pakistan,” Riaz warned.

He detailed the crisis facing the company, including:

• Arrests of key staff members
• Freezing of all bank accounts
• Suspension of ongoing projects
• Inability to pay salaries to over 50,000 employees
• Billions in frozen investments and stalled development projects

Calling it a “serious national crisis,” Riaz urged authorities to consider arbitration for a dignified resolution, pledging full cooperation and compliance with any mutually agreed-upon outcomes.

This development marks a major moment in Pakistan’s accountability drive. However, critics warn that:

• Investor confidence in the real estate sector may suffer.
• Thousands of families with stakes in Bahria Town projects are now facing uncertainty.
• The business environment may become increasingly volatile if due process is seen as compromised.

The controversy also raises questions about the balance between justice and economic stability, particularly when actions affect businesses that employ tens of thousands and manage investments in the trillions of rupees.

The auction of Malik Riaz’s Bahria Town properties by NAB represents a significant move in the enforcement of the law, but also exposes the fragile interplay between legal accountability and economic stability. With only days left before the auction, all eyes are now on August 7, as Pakistan witnesses one of the most high-stakes property auctions in its history.