ISLAMABAD: The National Accountability Bureau has ordered the freezing of numerous properties across Pakistan, including assets tied to Malik Riaz’s son and his real estate firm, Bahria Town Pvt. Ltd., as part of an ongoing corruption investigation.
The move, detailed in an order dated June 19 and obtained by Dawn.com, places a 15-day freeze on 457 immovable properties under Sections 12 and 34A of the National Accountability Ordinance (NAO) 1999. The action comes in connection with a reference involving the alleged illegal acquisition of over 16,800 acres of government land in District Malir, Karachi.
NAB alleges that the accused individuals, working in collusion, misappropriated the land in violation of Section 9A of the NAO, which relates to corruption and corrupt practices.
Among the frozen assets are 25 key properties: five belonging to Bahria Town in DHA Rawalpindi, two registered under Ahmed Ali Riaz in Islamabad, and 18 more in Islamabad under the Bahria Town name. Additionally, two properties associated with Zain Malik, Malik Riaz’s son-in-law, have also been listed.
While the freeze is officially for 15 days, the order notes it will remain in effect until an accountability court rules on the matter, citing precedent from a 2019 Supreme Court judgment (2019 SCMR 1106).
This latest development follows a broader crackdown in the £190 million Al Qadir Trust case, in which Malik Riaz is declared an absconder. Earlier this month, a court issued non-bailable arrest warrants for Riaz, his son, and others in connection with the Bahria Town Karachi (BTK) land acquisition case.
The National Accountability Bureau had already filed a reference implicating Bahria Town owners, prominent political figures from the Pakistan Peoples Party (PPP), and former government officials for allegedly facilitating the unlawful conversion and transfer of government land to Bahria Town for its Karachi project.
