ISLAMABAD – In a significant development in the Malik Riaz asset recovery case, the National Accountability Bureau (NAB) has successfully auctioned off one Bahria Town property and received conditional bids for two others, totaling nearly Rs2.27 billion.
The Rubaish Marquee, located in Islamabad, was sold for Rs508 million, surpassing its reserve price by Rs20 million. Meanwhile, two corporate offices in Bahria Town Rawalpindi fetched conditional bids of Rs876 million and Rs881.5 million respectively. Three other properties failed to attract qualifying bids.
The high-stakes auction, conducted behind closed doors at NAB’s Rawalpindi office, saw media personnel barred from entry and only provided printed summaries post-auction.
These sales come in the wake of the Islamabad High Court’s dismissal of Bahria Town’s petitions, allowing NAB to proceed. However, the real estate giant has now turned to the Supreme Court in a last-ditch effort to halt the asset liquidation process.
This story has been reported by PakTribune. All rights reserved.