By Staff Reporter
ISLAMABAD: Pakistan’s anti-corruption agency, the National Accountability Bureau (NAB), has imposed a 15-day freeze on 457 properties nationwide, including those owned by property tycoon Malik Riaz’s son, Ahmed Ali Riaz, and his company, Bahria Town Pvt Ltd, as part of a sweeping investigation into the alleged illegal seizure of government land in Karachi, officials confirmed Saturday.
The order, issued on June 19, escalates NAB’s pursuit of Riaz, a polarising figure already evading authorities in the £190 million Al Qadir Trust Case, and signals a deepening probe into one of Pakistan’s most contentious real estate empires.
Under Section 12 of the National Accountability Ordinance (NAO), 1999, which grants the bureau authority to freeze assets during investigations, and Section 34A, which allows delegation of such powers, NAB targeted properties linked to Riaz and his associates.
The order zeroes in on what it describes as a coordinated scheme to usurp 16,896 acres of government land in Karachi’s Malir district.
“It transpired that accused persons in active connivance with each other have usurped the government land admeasuring 16,896 acres situated in District Malir, Karachi,” the order states, alleging violations of Section 9A of the NAO, which addresses corruption and corrupt practices.
The frozen assets include five properties owned by Bahria Town in DHA Rawalpindi, two properties in Islamabad owned by Ahmed Ali Riaz, and 18 additional properties in Islamabad under Bahria Town’s name — a total of 25 properties tied to the Riaz family and their business. Two properties belonging to Zain Malik, Riaz’s son-in-law, were also listed in the order.
The freeze will hold for 15 days but could persist longer. “It will continue to subsist until the accountability court adjudicates upon the same,” the document notes, citing a 2019 Supreme Court ruling as legal precedent.
This latest action follows a string of aggressive moves by NAB against Riaz and his inner circle. Earlier this month, an accountability court issued non-bailable arrest warrants for Riaz, his son, and others implicated in the Bahria Town Karachi (BTK) land grab case. Months prior, NAB had filed a reference accusing Bahria Town’s owners, senior leaders of the Pakistan Peoples Party (PPP), and government officials of illicitly converting, exchanging, and transferring government land to fuel the BTK project — a massive development long plagued by allegations of corruption and land theft.
The Karachi project, a flagship of Bahria Town’s sprawling portfolio, has drawn fierce criticism for allegedly displacing local communities and gobbling up public land. The involvement of PPP figures, a dominant force in Sindh province and coalition partner of Pakistan Muslim League government, has amplified claims of entrenched corruption among Pakistan’s political and business elite.
Earlier media reported that NAB has launched a formal effort to extradite Riaz and his son from the United Arab Emirates. The extradition request, initiated under international anti-money laundering laws and the Vienna Convention. The accountability bureau has reached out to UAE authorities to secure Riaz’s return, a man long considered untouchable due to his deep ties to Pakistan’s political and business elite.
Riaz is believed to be residing in Dubai, where he has been overseeing his latest venture, even as legal pressures mount back home.
The push to extradite Riaz follows years of scrutiny over his business practices. A pivotal moment came in November 2021, when the UK’s Royal Court of Justice upheld a decision that cast a harsh light on Riaz and his son. “While rejecting the appeal, the UK court judgement notes that the conclusion of the Home Office that Mr Riaz and his son have been involved with corruption and financial/commercial misconduct was founded on their involvement in the affairs of Bahria Town, a company owned and run by the appellants’ family and described as the largest property developer in Asia.”
That decision led the UK Home Office to cancel the visas of both Riaz and Ali Malik.
Earlier this year, the bureau issued a public statement announcing its intent to extradite Riaz and warned citizens against investing in his latest project, Bahria Town Dubai. The $20 billion real estate venture, launched in 2018 in partnership with the UAE-based Dhabi Group, aims to create a luxurious community featuring residential, commercial, and entertainment offerings.
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