The National Accountability Bureau (NAB) announced on Tuesday that it will publicly auction six Bahria Town properties in Rawalpindi and Islamabad on June 12, as part of its ongoing efforts to recover funds in corruption cases linked to real estate tycoon Malik Riaz.
The auction is the latest move in NAB’s continued pursuit of Riaz, who has been declared an absconder in the £190 million Al Qadir Trust case. In its official notice, the bureau listed five properties in Rawalpindi and one in Islamabad, all connected to Bahria Town and owned by Riaz.
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According to NAB, the properties are being sold under Section 33E of the NAB Ordinance 1999 to recover the defaulted amount from a plea bargain related to corruption charges.
Confirming the details to Dawn.com, NAB’s media director Birj Lal Dosani said the auction is part of the watchdog’s broader recovery process under corruption investigations involving Bahria Town.
Earlier this year, NAB had warned the public against investing in Bahria Town’s Dubai project and initiated extradition proceedings against Riaz and his son, Ali Ahmed Malik. In February, the bureau filed a corruption reference against Riaz, former Sindh Chief Minister Syed Qaim Ali Shah, Information Minister Sharjeel Memon, and others over the illegal transfer of land to Bahria Town.
Additional references were also filed over the alleged unlawful acquisition of 4,500 kanals of state land in New Murree for Bahria Golf City and the Takht Pari forest area.
In March, NAB sealed numerous Bahria Town properties across Karachi, Lahore, New Murree, Takht Pari, and Islamabad. It also froze hundreds of the company’s bank accounts and vehicles as part of its probe.
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