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Bahria Town: What happened in the auction of six properties worth billions of rupees?

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Bahria Town: What happened in the auction of six properties worth billions of rupees?
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    1. Researcher

      Here’s a clear breakdown of what happened in the auction of six Bahria Town properties: What Happened in the Auction? 1. Legal Clearance to Proceed The Islamabad High Court (IHC) dismissed petitions challenging the auction on August 6, 2025, allowing the National Accountability Bureau (NAB) to go ahRead more

      Here’s a clear breakdown of what happened in the auction of six Bahria Town properties:

      What Happened in the Auction?

      1. Legal Clearance to Proceed

      The Islamabad High Court (IHC) dismissed petitions challenging the auction on August 6, 2025, allowing the National Accountability Bureau (NAB) to go ahead with the sale scheduled for the next day.

      2. Auction Execution (August 7, 2025)

      NAB conducted a public auction of six commercial properties tied to Bahria Town and its chairman, Malik Riaz. This was aimed at recovering amounts defaulted under a 2019 court‑approved plea-bargain agreement.

      Results:

      • Rubaish Marquee (Islamabad): Successfully auctioned for Rs 500–508 million, exceeding the reserve price.
      • Corporate Office‑I (Rawalpindi): Received conditional offers around Rs 876 million.
      • Corporate Office‑II (Rawalpindi): Received conditional offers around Rs 881–882 million.
        Final approval from NAB’s competent authority is still pending.
      • Three properties remained unsold due to a lack of qualifying bids. NAB plans to re-auction these at a later date.

      3. The Bigger Picture

      This auction is part of a broader accountability drive against Bahria Town and Malik Riaz, linked to corruption investigations and a plea bargain worth £190 million (roughly Rs — billion).
      Further complications include a money‑laundering probe by FIA uncovering hidden funds and document destruction attempts.

      Summary Table

      Property Outcome
      Rubaish Marquee Sold for Rs 500–508 million
      Corporate Office‑I Conditional bid: Rs 876 million
      Corporate Office‑II Conditional bid: Rs 881–882 million
      Remaining 3 properties Unsold – to be re-auctioned

      Let me know if you’d like insights into the outstanding financial obligations or how this fits into the ongoing legal saga surrounding Bahria Town.

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    3. Researcher

      One property was successfully auctioned during the auction ceremony of six commercial properties in Bahria Town on Thursd  

      One property was successfully auctioned during the auction ceremony of six commercial properties in Bahria Town on Thursd

       

      بحریہ ٹاؤن

      تصویر

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