The National Accountability Bureau (NAB) is set to auction Malik Riaz’s properties on August 7, 2025, at the NAB Rawalpindi Office, Sector G-6/1, Islamabad, according to the state-run television.
Earlier this year, NAB announced the auction of six Bahria Town properties in Rawalpindi and Islamabad after Mr Riaz, the chairman of Bahria Town, and his son Ali failed to pay the amount agreed upon in a plea deal to settle the case.
Subsequently, Bahria Town approached the Islamabad High Court (IHC), which issued a stay order halting the auction. Last month, the accountability watchdog petitioned the court to vacate the stay order.
The Islamabad High Court on Tuesday dismissed petitions seeking to halt the auction of Bahria Town’s properties and has allowed NAB to proceed with the sale.
The Islamabad High Court rejected the petitions filed by Bahria Town to stop the auction, giving the accountability bureau the green light to auction the properties.
On Monday, the IHC reserved its verdict on petitions challenging the proposed auction of Bahria Town properties.
A division bench of the Islamabad High Court — comprising Chief Justice Sardar Muhammad Sarfraz Dogar and Justice Mohammad Asif — reserved its judgment on Monday after hearing arguments from both sides.
Appearing for Bahria Town, senior lawyer Farooq H. Naik argued that NAB’s auction notice was “illegal, deceptive, and issued with mala fide intent.”
He maintained that Bahria Town was not a party to the plea bargain deal and had been wrongfully targeted. Naik further said Mr Zain, who had pledged Bahria Town properties as collateral, had already applied for cancellation of his plea bargain, and that application was still pending.
Therefore, Naik submitted, NAB could not proceed with the auction. NAB prosecutor Rafay Maqsood opposed this, saying Mr Riaz and his son had failed to honor their plea bargain.
The properties being put up for auction include:
- Bahria Town Corporate Office II, Plot No. 7-D, Park Road, Bahria Town Phase II, Rawalpindi
- Bahria Town Corporate Office, Plot No. 7-E, Park Road, Bahria Town Phase II, Rawalpindi
- Rubeesh Marquee & Lawn, Bahria Garden City, near Bahria Garden City Golf Course, Bahria Town, Islamabad
- Arena Cinema, located at Plot No. 984-Broad-A, Bahria Town Phase IV, Rawalpindi
- Bahria Town International Academy (school building), situated at Jasmine Street and Silver Oaks Road, Safari Villas I, Bahria Town, Rawalpindi
- Safari Club, located at Plot No. 27, Safari Villas Phase, Bahria Town, Rawalpindi
