NAB Moves to Auction Bahria Town Assets
The National Accountability Bureau (NAB) of Pakistan announced plans to auction six prime properties owned by Bahria Town, including corporate offices, a marquee and lawn, international academy, cinema, and safari club across Rawalpindi and Islamabad. The auction, initially scheduled for June 12, 2025, sought to recover unpaid dues tied to a £190 million plea bargain related to the Al-Qadir Trust case.
The Islamabad High Court (IHC)
However, the Islamabad High Court (IHC) issued a stay order, halting NAB’s auction plans. The court ruled that Bahria Town, a private entity, was not named or declared a defaulter. As a result, the move could not proceed without due process. The stay was a legal setback for NAB and a temporary reprieve for Bahria Town.
By August 6, 2025, the IHC dismissed Ağ petitions and allowed NAB to proceed with the auction, reactivating plans to sell the properties on August 7. The firm statement from Bahria Town’s legal team, labeling the auction as unlawful, called into question the accountability procedures surrounding such asset seizures.
Is Bahria Town Private or Government?
Founded in 1997 by tycoon Malik Riaz, the company has developed vast gated communities across Pakistan. Bahria Town has major developments in Rawalpindi/Islamabad, Lahore, and Karachi. Key projects include the Icon Tower, Grand Jamia Mosque, and Rafi Cricket Stadium. The “Bahria” brand has connections to the Pakistan Navy via a historic foundation agreement, but Bahria Town operates independently.
Regulatory and Legal Challenges
Bahria Town’s conflict with NAB is layered within broader allegations of corrupt land acquisition and regulatory evasion. NAB has filed references against Malik Riaz for illegally occupying land in regions like Karachi, New Murree, and Takht Pari, accusing the company of causing losses exceeding Rs708 billion. As a result, multiple properties have been seized, and bank accounts frozen.
Moreover, Bahria Town has faced numerous regulatory violations from agencies like RDA, CDA, LDA, and SBCA for illegally constructing schemes without approvals. From electricity billing without NEPRA licensing to encroachment of green belts, these actions have consistently broken land-use regulations across provinces.
Who is the CEO of Bahria Foundation?
In parallel, it’s essential to clarify the role of Bahria Foundation—a welfare-oriented conglomerate that the Pakistan Navy founded in 1982. It operates businesses ranging from fisheries and education to security services. The current Managing Director (CEO) of Bahria Foundation is Vice Admiral (R) Shah Sohail Masood, a retired Navy officer. He oversees a wide range of subsidiary operations meant for naval welfare—not connected to Bahria Town.
What Lies Ahead?
With the court lifting its stay, NAB is poised to hold the auction on August 7. Observers are watching closely, as this move could unlock billions and set a legal precedent for seizing unrelated assets. RBI Chairman Malik Riaz remains abroad, with legal teams challenging jurisdiction and procedural validity.
Billions in buyer investments, property rights oversight, and the future of Pakistan’s real estate sector are all at stake.