ISLAMABAD: The National Accountability Bureau (NAB) has announced it will auction six properties belonging to Bahria Town on June 12 in Rawalpindi and Islamabad.
This move is part of ongoing legal actions against property magnate Malik Riaz, who remains an absconder in the high-profile £190 million Al Qadir Trust case.
The auction will aim to recover outstanding dues linked to a plea bargain under Section 33E of the NAB Ordinance, 1999.
According to an official NAB notification, five of the properties are located in Rawalpindi and one in Islamabad. NAB’s Media Director Birj Lal Dosani confirmed the auction details, stating that the action was necessary to reclaim funds owed by Malik Riaz as part of a corruption settlement agreement.
These properties are part of broader accountability measures targeting illegal land acquisitions and misuse of public resources.
Legal Proceedings and Broader Crackdown
The auction is the latest development in a series of legal proceedings involving Malik Riaz and his associates. In February 2025, NAB filed references against Riaz, former Sindh Chief Minister Syed Qaim Ali Shah, Minister Sharjeel Memon, and others for the illegal transfer of thousands of kanals of land to Bahria Town.
These include 4,500 kanals in Rawalpindi’s New Murree and the Takht Pari forest area.
Earlier in March, NAB also sealed numerous Bahria Town commercial and residential assets across Karachi, Lahore, New Murree, Takht Pari, and Islamabad.
Additionally, the bureau froze hundreds of Bahria Town bank accounts and vehicles. A Rawalpindi accountability court later issued non-bailable arrest warrants for both Malik Riaz and his son, Ali Ahmed Malik, related to the Takht Pari case.
Public Warnings and Plea Bargain Recoveries
NAB has repeatedly cautioned citizens against investing in Bahria Town’s ventures, particularly its Dubai project, urging the public to avoid falling for “attractive inducements.” These warnings come amid growing concerns about fraudulent real estate dealings that have compromised investor trust and financial security.
As clarified by senior lawyer Khawaja Haris, a plea bargain requires the accused to admit to wrongdoing and return misappropriated funds in exchange for reduced sentencing.
From 2000 to 2022, NAB recovered Rs65 billion through plea bargains out of a total of Rs91.55 billion, according to a report submitted to the Supreme Court.
