ISLAMABAD; The National Accountability Bureau (NAB) on Thursday successfully auctioned one out of six Bahria Town commercial properties as part of ongoing efforts to recover billions in a major corruption case linked to the real estate giant.
In an official statement, NAB confirmed that the property known as Rubish Market was auctioned for Rs508 million — Rs20 million above its reserve price. The payment and transfer process for this property is currently underway.
This auction is part of NAB’s broader asset recovery in a high-profile reference against Bahria Town’s founder Malik Riaz and his family.
The case stems from allegations of illegal land allotments, money laundering, and assets beyond known means. UK authorities had also reached a £190 million out-of-court settlement with Malik Riaz in 2019, which led to local investigations and asset seizures in Pakistan.
In Thursday’s proceedings, NAB also received conditional bids for two high-value Bahria Town corporate properties. A bid of Rs876 million was made for Corporate Office One, while Corporate Office Two received a conditional offer of Rs881.5 million. NAB said both bids are still under review and final approval is pending.
However, three other commercial properties failed to attract sufficient interest and were not sold. NAB stated: “The auction of these three properties has been postponed due to unsatisfactory bids.”
The watchdog added that the auction process is being conducted transparently under court orders and in line with efforts to recover misappropriated public funds.
