Recoveries tied to £190m case: NAB conducts auction for 6 Bahria Town properties
According to an official statement, the NAB conducted a public auction for six commercial properties associated with Malik Riaz and Bahria Town. The move is aimed at recovering unpaid amounts connected to the £190 million settlement case involving Riaz, the founder of Bahria Town.
The six properties up for auction include one in Islamabad and five in Rawalpindi.
The NAB said the sale aims to recover unpaid amounts from a settlement deal linked to the £190 million case involving Malik Riaz Hussain, the founder of Bahria Town.
The NAB listed the six properties including corporate offices on Plots 7-D (having estimated value of Rs871m) and 7-E (estimated value of Rs881m) in Bahria Town's Phase-II, Rawalpindi; Rubaish Marquee and Lawn in Islamabad (Rs488m), Arena Cinema (Rs1.1bn), Bahria Town International Academy (Rs1.07bn) and Safari Club (Rs1.2bn), in Bahria Town, Rawalpindi.
The NAB confirmed the Rubaish Marquee was successfully sold for Rs508 million — Rs20 million above the reserved price. The bureau has begun the process of transferring the amount.
Meanwhile, two other properties — Corporate Office-I and Corporate Office-II — received conditional bids of Rs876 million and Rs881.5 million respectively.
It says that three properties remained unsold due to lack of qualifying bids.
A re-auction will be announced soon.
The NAB remains committed to transparent recovery of public funds and strict enforcement of accountability laws.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
18 hours ago
- Business Recorder
LHC issues detailed judgement in Bahria Town properties auction case
ISLAMABAD: The Islamabad High Court (IHC) noted that the amendment in National Accountability Ordinance (NAO) 1999 was made on 16-08-2022, while the plea bargain agreement was admittedly approved before the amendments in NAO, 1999, which is still in field. A division bench of the IHC comprising Chief Justice of IHC Justice Sardar Muhammad Sarfraz Dogar and Justice Muhammad Asif, on Wednesday, issued detailed judgment of his order to turn down the petitions filed against the auction of Bahria Town properties. The judgment, authored by Justice Dogar, said convict/ Zain Malik kept returning the amount of plea bargain after the amendment in NAO. It concluded that prima facie, the convict malafidely discontinued the payment of remaining instalments in connivance with the surety on the pretext of amendment in order to refrain himself from returning the amount gained illegally. The court noted that as per Section 33E of the NAO, 1999 any fine or other sum due under this Ordinance, or as determined to be due by a Court shall be recoverable as arrears of land revenue. In this case admittedly, the determined amount has been approved by the Court, which is due against the petitioner being surety of the convict Zain Malik; therefore, the same can be recovered as arrears of land revenue by the NAB. The court noted that the record shows that Zain Malik was admittedly accused in three references and three investigations. He offered to return the illegal gains acquired by him in the commission of offence. The chairman NAB considered the offer of plea bargain along with affidavit of Zain Malik and determined his total joint liability of over Rs9 billion (Rs9,050,554,034) including the liability in reference No 02/2019. Zain Malik requested for payment in instalments, which was also considered by chairman NAB and accepted the offer of plea bargain. In this regard Rs1 billion was adjusted as down payment in six different cases, whereas, the remaining liability was agreed to be paid in three years. The statement of accused Zain Malik was recorded through Skype/ Video link facility from London, who was duly identified by his counsel. The statement of Col Khalilur Rehman (retired), vice Chief Executive of Bahria Town was also recorded, who acknowledged the sureties against the remaining liability in six different case including the reference No 02/2019. The judgment mentioned that on the application of respondent, the properties were attached vide orders dated 08.01.2024, 12.01.2024 and 19.01.2024 and the claim of the petitioner is that petitioner is independent juristic person and is not responsible for any act or deed of any of its shareholders and that it has never been an accused nor was declared proclaimed offender in reference No 19/ 2023 titled 'The State vs. Imran Ahmed Khan Niazi and others'; therefore, the properties, which are statedly belonging to the petitioner, could not have been attached by the Accountability Court-1, Islamabad. The judge observed that the Section 87 to 89 of the CrPC provide attachment of the property of an absconding accused as a coercive measure to compel his appearance. In this regard, as per Section 87 of the CrPC, when a court has reasons to believe that a person, against whom a warrant has been issued, is deliberately avoiding arrest, it may issue a proclamation requiring the accused to appear at a specified place and time. Copyright Business Recorder, 2025
Business Recorder
3 days ago
- Business Recorder
Large tract of land linked to POs in ‘Al-Qadir Trust case' auctioned
ISLAMABAD: The authorities on Monday auctioned a large tract of land in the capital linked to proclaimed offenders (POs) in the high-profile Al-Qadir Trust corruption case, which names former Prime Minister Imran Khan and his wife among the accused. However, officials denied reports that Imran Khan's personal residence in Bani Gala was part of the sale, stating that the former prime minister and his wife are not POs. A total of 405 kanals– approximately 50 acres – of agricultural land in Islamabad's Moza Mohra Noor area was auctioned at a price of Rs3.42 million per kanal, in a court-ordered move overseen by the local administration and an auction committee. The auction follows the January court declaration of six individuals, including Farhat Shehzadi alias Farah Gogi, Zulfi Bukhari, and Mirza Shehzad Akbar, as proclaimed offenders (POs) in connection with the National Accountability Bureau (NAB) reference – commonly known as the Al-Qadir Trust case. Two other properties – a 16-kanal plot on Islamabad's Club Road and an additional 248-kanal tract of agricultural land – were also listed for auction but received no bids. Assistant Commissioner Secretariat Uzair Ali Khan supervised the process, though the auction committee arrived over six hours late. Prior public notices had been issued, inviting bidders to submit a Rs5 million pay order in the name of the NAB chairman to participate. Reacting to reports circulating on social media that Imran Khan's personal residence was under auction, Pakistan Tehreek-e-Insaf (PTI) Secretary General Salman Akram Raja dismissed them as inaccurate. 'The Bani Gala residence is not part of any auction. Monday's notice pertains only to properties owned by absconding co-accused in the NAB reference,' he posted on X, adding that PTI's legal team is actively monitoring the situation. A NAB spokesperson confirmed that the properties being auctioned are linked to fugitives and not to Imran Khan himself. 'There are no court orders for the auction of Imran Khan's assets. The £190 million case does not include any of his properties,' the official said. The Al-Qadir Trust case relates to allegations that Imran Khan and his associates misused authority in the handling of £190 million repatriated from the UK during his tenure. Khan, who remains imprisoned, denies all charges and has described the cases against him as politically motivated. Copyright Business Recorder, 2025
Express Tribune
3 days ago
- Express Tribune
One of Qadir Trust properties auctioned
Authorities on Monday auctioned one of the three properties "illegally" transferred to former prime minister Imran Khan and his wife Bushra Bibi, according to the £ 190 million corruption reference filed by the National Accountability Bureau (NAB) against the couple and some other accused in December 2023. An accountability court in Islamabad on January 17, 2025 found Imran, Bushra and other accused guilty of corruption and sentenced the PTI founder to 14 years in prison. Bushra Bibi received a seven-year jail term. Last week NAB had decided to auction the properties. According to a public notice issued by Assistant Commissioner Secretariat Uzair Ali Khan, the three properties405-kanals of agricultural land at Mohra Noor; a 16-kanal motel plot on Club Road and 248 kanals of agricultural landwere put up for auction. The notice asked those wishing to participate in the auction to submit a pay order of Rs5 million in the name of the National Accountability Bureau (NAB) chairman. It also allowed the interested bidders to inspect the property prior to the auction. It also stated that the relevant patwari would provide full details to participants and that the auction would be conducted under the terms and conditions approved by the evaluation committee. The auction was scheduled for 11:00 am on Monday, but the auction committee arrived at 5:39 pm. Later, 405-kanals of agricultural land at Mohra Noor of Bani Gala was auctioned at the rate of Rs3.42 million per kanal. Reacting to the matter, PTI Secretary General Salman Akram Raja took to X, stating that the news of the alleged auction of the PTI founder's Bani Gala property emerged only today. "If it is true then it is the result of a secretive action," he said, Raja stated that the Bani Gala administrators were unaware of the matter and that PTI's legal team was working to get to the bottom of it, with accurate details to be revealed soon. Later, in another post, he clarified that according to the legal team's findings, NAB Reference No 19/2023, titled State vs Imran Khancommonly known as the Al-Qadir Trust caseinvolves other accused who have been declared absconders and proclaimed offenders.
