On August 7, 2025, the National Accountability Bureau (NAB) auctioned properties owned by Bahria Town at its headquarters in Rawalpindi/Islamabad. The bureau sold one sealed property and received conditional bids for two others, generating a total of Rs2.27 billion. These assets belong to real estate tycoon Malik Riaz. However, three additional properties failed to attract qualifying bids, prompting NAB to postpone their sale.
The auction included six properties, but only three saw progress:
- Rubaish Marquee: Sold for Rs508 million, Rs20 million above its reserve price of Rs488 million.
- Two Corporate Offices: Received conditional bids of Rs876 million and Rs881.5 million, matching reserve prices. Bidders sought to repurpose these for other businesses, per a NAB source.
The unsold properties include the Arena Cinema, with a reserve price of Rs 1.1 billion; the Bahria Town International Academy, priced at Rs 1.07 billion; and the Safari Club, valued at Rs 1.2 billion. NAB will re-auction these properties on a date it has yet to announce. Although NAB invited the media to cover the event, officials barred them from observing the closed-door proceedings and provided only a brief summary of the outcomes.
The auction originated from a defaulted plea bargain involving Zain Malik, Riaz’s son-in-law, related to Bahria Town projects. Riaz is currently abroad and is reportedly evading arrest, as he faces investigations in the £190 million Al-Qadir Trust case and the Bahria Town Karachi case. The Islamabad High Court dismissed petitions against the sale on August 5, which cleared the way for the auction, despite Bahria Town’s subsequent appeal to the Supreme Court to stop it.
The lack of media access raised transparency concerns, though NAB’s detailed pricing suggests accountability. The auction’s partial success reflects challenges in liquidating high-value assets amid legal disputes. The outcome could impact Riaz’s financial standing and NAB’s anti-corruption efforts.
