NAB to Seize Malik Riaz’s Mall Near Centaurus in Islamabad

An accountability court in Karachi has formally ordered the seizure of Bahria Town owner Malik Riaz’s Mall of Islamabad in connection with an ongoing money laundering investigation. This marks a major development in one of Pakistan’s most high-profile corruption cases. According to court documents, the National Accountability Bureau (NAB) had filed the seizure request on March 27, alleging that the property which located on Plot 65-N, Blue Area, F-7/1, Islamabad, was acquired through illicit funds linked to front companies associated with Malik Riaz. NAB informed the court that a money laundering reference is already pending trial, and the latest seizure request was made after new evidence confirmed the Mall of Islamabad’s connection to illegal financial transactions. The court granted NAB’s request under Section 8 of the Anti-Money Laundering Act, allowing authorities to take control of the commercial complex. The reference names Malik Riaz, his sons, and several associates as accused, with arrest warrants reportedly issued multiple times. NAB’s investigation claims the Mall of Islamabad, valued at Rs. 385 million, was originally purchased in 2014 by Ayaz Khan and Waqar Riffat, allegedly acting as proxies for Malik Riaz’s business network. The petition further noted that Wiki Trading Company, one of the entities involved in the transaction, is owned by Malik Riaz’s brother, Farhat Hussain, and nephew, Wasim Riffat. The order adds to mounting legal troubles for the real estate tycoon, who has long faced inquiries over alleged land irregularities, offshore holdings, and financial mismanagement. The Mall of Islamabad is a luxury mixed-use development which has been one of Bahria Town’s flagship projects, featuring high-end retail, corporate offices, and residential units. Malik Riaz, one of Pakistan’s most prominent developers, has been under scrutiny for years over land acquisition and financial transparency issues.