NAB auctions Malik Riaz’s properties worth billions

RAWALPINDI: The National Accountability Bureau (NAB) has initiated the transfer of proceeds after auctioning off several properties linked to real estate tycoon Malik Riaz, according to an official statement issued on Thursday.

“NAB Islamabad / Rawalpindi today conducted a public auction of six commercial properties linked to Malik Riaz / Bahria Town, in efforts to recover defaulted funds from a court-approved plea bargain of 2019,” the statement read.

The move came after chairman Malik Riaz and his son Ali failed to pay the amount agreed upon under a plea bargain to settle the £190 million case.

Among the properties sold was the Rubaish Marquee, which fetched a bid of Rs508 million. NAB confirmed that the process of transferring this amount to the bureau has begun.

Meanwhile, two other properties — Corporate Office-I and Corporate Office-II — received conditional bids of Rs876 million and Rs881.5 million respectively.

However, NAB stated that final approval for the auction of these two offices is still pending.

Properties of Bahria Town Sold in todays Auction held at NAB HQ pic.twitter.com/lfrmgU7nPL

— Adil Ajmal (@AdilAjmal93) August 7, 2025

The bureau also confirmed that the auction of three other properties was postponed after failing to attract the minimum required bids.

These properties will be re-auctioned at a later date, NAB added.

The anti-corruption watchdog reiterated that “NAB remains committed to transparent recovery of public funds and strict enforcement of accountability laws.”

THE BAHRIA TOWN PROPERTIES UP FOR AUCTION

The auction process of Bahria Town founder Malik Riaz’s properties began at the NAB Rawalpindi office on Thursday morning.

Among the properties listed for auction is the Bahria Town Corporate Office II, situated at Plot No. 7-D on Park Road in Phase II of Bahria Town, Rawalpindi.

Another corporate office, located at Plot No. 7-E on the same road and phase, is also part of the auction.

The list further included Rubaish Marquee and Lawn, positioned in Bahria Garden City near the Garden City Golf Course in Islamabad.

NAB also announced that the Arena Cinema, located on Plot No. 984-Broad-A in Phase IV of Bahria Town, Rawalpindi, will be auctioned.

Additionally, Bahria Town International Academy, a school building near Jasmine Street and Silver Oaks Road in Safari Villas I, Rawalpindi, is also up for sale.

Plot No. 27, which houses the Safari Club in the Safari Villas Phase of Bahria Town, Rawalpindi, is another property to be auctioned.

COURT REJECTS BAHRIA TOWN STAY PLEAS

The bureau had set August 7, 2025, as the date for auctioning several properties belonging to Bahria Town owner Malik Riaz.

The business tycoon had moved Islamabad High Court (IHC) to halt the auctioning of his properties.

However, the IHC had dismissed Bahria Town’s pleas against the auction of its properties.

Bahria Town moves Supreme Court to stop NAB from auctioning its properties.#BahriaTown pic.twitter.com/tcBbVwKIiL

— Bahria Town Official (@BahriaTownOffic) August 6, 2025

In its short order issued Thursday, the court permitted the NAB to proceed with the auction. “All petitions filed by Bahria Town are dismissed,” the court stated.

The order also withdrew previous stay orders issued on April 15 and June 4.

The one-page short verdict was issued by a division bench headed by Chief Justice Sarfraz Dogar.

Bahria Town deadlock: Impact on investors, residents

BAHRIA TOWN MOVES SC

After dismissal of stay pleas, Bahria Town filed an appeal in the Supreme Court (SC) Wednesday, challenging the IHC’s decision regarding the auction of its properties.

In the plea, Bahria Town urged the apex court to halt the auction of its properties until a verdict on the appeal is announced.