The National Accountability Bureau (NAB) has announced it will auction six major properties owned by Malik Riaz, the founder of Bahria Town. Five properties are located in Rawalpindi, and one is in Islamabad. NAB says the auction aims to recover defaulted payments related to a plea bargain agreement. The auction is scheduled for June 12 at the NAB Rawalpindi office, and an official advertisement has been released.
These properties include Bahria Town’s corporate offices, an international academy school building, a cinema, a recreational lawn near the Bahria Golf Course, and Safari Club facilities. NAB sealed these and other Bahria Town assets earlier this year during its ongoing investigation into large-scale fraud and illegal land grabbing by Malik Riaz and his associates.
NAB had previously frozen hundreds of bank accounts linked to Malik Riaz and seized dozens of luxury vehicles. The bureau alleges that Malik Riaz illegally occupied both public and private land in multiple cities including Karachi, Lahore, Rawalpindi, and Murree. He is accused of illegally setting up housing societies without permission and defrauding the public of billions of rupees.
Officials also say Malik Riaz transferred funds to his Dubai projects. NAB has warned the public against investing in these projects, cautioning that money laundering laws will be enforced against investors. The bureau is coordinating with international agencies to bring Malik Riaz back to Pakistan, as he is currently a fugitive in a UK court case.
Finally, NAB reminded the public that numerous fraud cases against Malik Riaz and his partners are still under investigation. Islamabad and Karachi accountability courts have issued summons for them. Despite being wanted internationally, Malik Riaz continues to operate housing projects across Pakistan. Authorities remain determined to recover stolen assets and hold all involved accountable.