Court denies request for halt in sale of Bahria Town real estate at auction
The National Accountability Bureau (NAB) proceeded with the auction of properties belonging to Malik Riaz and Bahria Town on August 7, 2025, following the Supreme Court's dismissal of a stay order against the sale.
The auction, which took place at NAB’s regional headquarters in Islamabad/Rawalpindi, saw six properties up for grabs, with formal approval from the Islamabad High Court. These properties were connected to the case where Malik Riaz was declared an absconder in the £190 million Al-Qadir Trust case.
Out of the six properties announced for auction, NAB successfully sold three properties and received conditional bids for two more, with a combined value of approximately Rs2.27 billion. The Rubaish Marquee, for instance, was sold for Rs508 million, exceeding its reserve price, while the corporate offices received bids at their reserve prices.
However, the auction of three remaining properties – corporate offices on Plots 7-D and 7-E in Bahria Town's Phase-II, Rawalpindi, Arena Cinema, Bahria Town International Academy, and Safari Club – remained unsold due to a lack of qualifying bids.
The hearing was adjourned until August 13, with the court directing Naek to submit copies of the references filed against Malik Riaz and the housing society. The court also observed that copies of NAB references should be attached with the appeals to ascertain the actual extent of embezzlement.
Malik Riaz is still abroad and avoiding arrest amid ongoing pressure from government agencies, including account freezes and staff arrests. Bahria Town’s leadership expressed willingness to engage in arbitration if given a chance for a dignified resolution.
The NAB has begun the process of transferring the amount from the Rubaish Marquee sale, with a re-auction for the unsold properties set to be announced soon. The sale aims to recover unpaid amounts from a settlement deal linked to the £190 million case involving Riaz, with the NAB remaining committed to transparent recovery of public funds and strict enforcement of accountability laws.
[1] The News International, "NAB to auction Bahria Town properties today," August 7, 2025. [2] Dawn, "NAB auction of Bahria Town properties: Malik Riaz still abroad," August 7, 2025. [3] Geo News, "Bahria Town's leadership offers to engage in arbitration," August 7, 2025. [4] Express Tribune, "NAB auction of Bahria Town properties: Three properties remain unsold," August 7, 2025. [5] Samaa TV, "Islamabad High Court approves NAB auction of Bahria Town properties," August 5, 2025.
The National Accountability Bureau (NAB) successfully sold three properties and received conditional bids for two more, amassing a value of approximately Rs2.27 billion. This recovery of public funds is part of NAB's commitment to transparent finance within the industry and business sector. Despite the auction, Malik Riaz remains abroad, avoiding arrest, and Bahria Town’s leadership has expressed a willingness to engage in arbitration for a dignified resolution.
