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NAB Auctions Malik Riaz Properties in £190 Million Recovery Effort
NAB auctions Malik Riaz properties to recover funds from a court-approved plea bargain in a £190 million corruption case.
The National Accountability Bureau (NAB) announced on Thursday that it held a public auction of six commercial properties linked to real estate tycoon Malik Riaz and Bahria Town.
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The auction took place at NAB’s Rawalpindi office. It is part of the bureau’s effort to enforce the terms of the 2019 settlement, which Malik Riaz failed to honour.
“NAB Islamabad/Rawalpindi conducted a public auction of six commercial properties linked to Malik Riaz/Bahria Town,” the bureau said in a statement. “This is part of efforts to recover defaulted funds.”
One of the key assets sold was Rubaish Marquee and Lawn, located in Bahria Garden City, Islamabad. It fetched a winning bid of Rs508 million, which is now in the process of being transferred to NAB’s account.
Two other properties — Corporate Office-I and Corporate Office-II in Phase II of Bahria Town, Rawalpindi — received conditional bids of Rs876 million and Rs881.5 million, respectively. Final approval for these two sales is still pending.
Three remaining properties did not receive suitable offers. NAB postponed their auction and said they will be re-listed at a later date.
NAB auctions Malik Riaz properties after he failed to fulfil a major financial obligation linked to the £190 million UK asset repatriation case. In 2024, NAB rejected low offers during an earlier attempt to resolve the matter.
Properties listed in the auction included:
- Rubaish Marquee and Lawn, Bahria Garden City, Islamabad
- Corporate Offices I & II, Park Road, Bahria Town, Rawalpindi
- Arena Cinema, Phase IV, Bahria Town
- Bahria Town International Academy, Safari Villas I
- Safari Club, Safari Villas, Bahria Town
