Bahria Town’s founder, Malik Riaz, has approached the Supreme Court of Pakistan seeking to halt the scheduled auction of the real estate giant’s properties. The auction, set for August 7, was earlier greenlit by the Islamabad High Court (IHC), but Riaz’s legal team has now challenged that decision in the apex court, requesting immediate intervention.
The petition, filed through senior advocate Farooq H. Naek, urges the Supreme Court to suspend the IHC’s judgment and stay the auction until a final verdict is delivered on the matter. The appeal argues that allowing the auction to proceed would inflict irreparable damage on Bahria Town, which is already facing mounting financial and operational difficulties.
This legal move follows a public statement by Malik Riaz, issued a day earlier via the social media platform X (formerly Twitter). In his message, Riaz outlined the gravity of the crisis Bahria Town is currently grappling with. He accused government agencies of launching a concerted campaign against the company, including actions such as freezing bank accounts, impounding vehicles, and the arrest of dozens of employees.
According to Riaz, these coercive measures have brought the company’s cash flow to a standstill, severely affecting its ability to maintain services and pay salaries. He warned that if the pressure continues unabated, Bahria Town may be forced to completely shut down operations across Pakistan—a drastic step that could affect thousands of employees and residents living in its housing developments.
Calling for a constructive resolution, Malik Riaz emphasized his openness to dialogue and arbitration, expressing willingness to comply fully with any mutually agreed or court-mandated settlement, including financial obligations. He said Bahria Town is ready to engage in a “dignified and serious resolution” to navigate the crisis and resume normal operations.
As the Supreme Court reviews the petition, all eyes are now on its next move. The outcome could have significant implications for both Bahria Town’s future and the broader real estate sector in Pakistan. If the court grants a stay, it may provide temporary relief to the embattled firm. Otherwise, the scheduled auction could proceed, potentially leading to the dismantling or state seizure of Bahria Town’s assets.
