NAB to Auction Properties of One of Most Famous Housing Societies in Pakistan

The National Accountability Bureau (NAB) will auction six Bahria Town properties in Rawalpindi and Islamabad on June 12 to recover a defaulted amount linked to Malik Riaz. According to NAB’s notification, the properties include five in Rawalpindi and one in Islamabad. The recovery is being made under Section 33E of the NAB Ordinance, 1999. The auction follows NAB’s recent crackdown on Bahria Town. In February, NAB filed a reference against Malik Riaz, former Sindh Chief Minister Syed Qaim Ali Shah, Minister Sharjeel Memon, and others over illegal land transfers to Bahria Town. Two more references were filed over the unlawful acquisition of 4,500 kanals of state land in Rawalpindi’s New Murree and Takht Pari forest areas. In March, NAB sealed multiple Bahria Town properties in Karachi, Lahore, Islamabad, Takht Pari, and New Murree, and froze hundreds of related bank accounts and vehicles. A Rawalpindi accountability court also issued non-bailable arrest warrants for Malik Riaz and his son Ali Ahmed Malik in the Takht Pari reference. Earlier this year, NAB warned the public against investing in Bahria Town Dubai and initiated extradition efforts for Malik Riaz and his son.